Japan slides to 4th largest economy

February 17, 2024

Japan’s economy is now the world’s fourth-largest after it contracted in the last quarter of 2023 and fell behind Germany.
The government reported the economy shrank at an annual rate of 0.4% in October to December
- It contracted 2.9% in July-September.
- Two straight quarters of contraction are considered an indicator an economy is in a technical recession.
USA, China, Germany are the top 3 largest economies in the world, while India is ranked at 5^th
The comparison among nations’ economies is based on nominal GDP and is in dollar terms.