(MENAFN) According to the Japanese government, annual economic growth of the country was downgraded to 1.5 percent in the fourth quarter from an early 2.2 percent rise, Xinhua reported.
Inflation-adjusted gross domestic product (GDP) for the October-December period was also revised down to a 0.4 percent increase, compared to a previous 0.6 percent reading.
Local reports said that the GDP data showed that the country has emerged to a technical recession in the previous two quarters after the sales tax hike in April, Japan's Cabinet Office said.
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