Economists are now forecasting that Japanese real GDP contracted by an astounding 12 percent in the 4th quarter of 2008, year to year. The government will report the GDP number on Monday.
UPDATE: It's bad. Very, very bad: -12.7% annual rate in Japan's 4Q2008. Nouriel Roubini tallies the global economic collapse: -3.8% for the U.S., -6% for the Eurozone, -8% for Germany, -16% for Singapore, and -20% for South Korea.
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