Japanese economy shrank more than predicted in Q1 2024
TOKYO, Japan: This week, the Japanese government said the world's fourth-largest economy shrank at an annual rate of two percent in the first quarter of 2024 as consumption and exports declined.
Although unemployment has stayed relatively low in the world's fourth-largest economy at some 2.6 percent, wage growth has been slow, and prices have risen partly due to the yen's weakness against the U.S. dollar.