MOSCOW (Sputnik) — This is more than 0.3 percent registered in the third quarter. Expectations for the fourth quarter also stood at 0.3 percent in lost GDP.
Private consumption rate sank by 0.8 percent of the GDP. It accounts for up to 60 percent of the island nation’s GDP.
In 2012, Prime Minister Shinzo Abe announced measures to halt economic stagnation, including structural reforms, monetary easing and fiscal stimulus. The plan, dubbed Abenomics, was introduced after Abe’s election in December 2013.