This is unexpected and I'm wondering is it because they accurately report their statistics?
Japan's GDP contacts 2.4% for the year
"The Japanese economy is certainly not falling into a hole," said Societe General Asia Pacific economist Glenn Maguire. "Given that Japan hasn't had excess capacity, excess debt, and excess employment, this cyclical slowdown is not going to slip into a full blown structural adjustment like we saw with the recessions in the 1990s
From plain main street economics they look pretty healthy, anyone else know what happened?
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Germany's Economy Contracts
Now Germany too.
Germany I can understand, they have been outsourcing jobs, all sorts of problems. They are blaming a construction slump.