The Japanese economy constricted at a slower pace than originally projected in the fourth quarter of 2015 although the country is at risk of another recession amid Prime Minister Shinzo Abe’s endeavors to bolster growth.
Revised official figures showed the country’s gross domestic product tumbled at an annualized pace of 1.1% from the previous quarter, instead of 1.4% as reported earlier. Last year, the growth rate was at a revised 0.5% from an initial estimate of 0.4%.
A sharp plunge in exports and share prices and a steep increase in the yen delivered a blow to the Japanese premier’s Abenomics in the early part of this year, which can lead to recession.
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