Tokyo | Japan’s economy unexpectedly slipped into recession after shrinking for a second quarter due to weak domestic demand, adding to pressure on the Bank of Japan as it considers raising interest rates for the first time since 2007.
Gross domestic product contracted at an annualised pace of 0.4 per cent in the final three months of last year, following a revised 3.3 per cent retreat in the previous quarter, the Cabinet Office reported on Thursday.
