Japan's GDP Drops 1.1%, and Nikkei Goes Up

because the drop was less than the forecast (which was between -2.0 to -2.4%). Nothing can drop the stock markets of the so-called developed countries any more. BRIC, without the exception of R, have been dropping while Dow, Nikkei, Dax, CAC, FTSE continue to levitate.

From MarketWatch:

LOS ANGELES (MarketWatch) -- Japan's gross domestic product fell 1.1% in October-December on an annualized basis, the Cabinet Office reported Monday, beating forecasts but also marking the first economic contraction since July-September 2009, when the economy shrank by 1.2%. The GDP was expected to fall by 2.4% for the quarter, according to a Dow Jones Newswires survey of economists, and was tipped to drop 2.0% by separate surveys from Bloomberg News and FactSet. On a quarter-on-quarter basis, GDP lost 0.3%, after growing 0.8% in the previous three months.

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