Japan's economy shrinks 4.8%, first contraction since 2009

Japan's economy surged in the fourth quarter of 2020, but it was not enough to keep the country from negative growth for the year.
The economy beat expectations to grow by three per cent between October and December compared to a similar period in 2019.
Growth was considerably slower than in the previous quarter, however, when the economy expanded 5.3%.
Japan's economy shrank 4.8% over the full year, its first contraction since 2009.

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