This is unexpected and I'm wondering is it because they accurately report their statistics?
Japan's GDP contacts 2.4% for the year
"The Japanese economy is certainly not falling into a hole," said Societe General Asia Pacific economist Glenn Maguire. "Given that Japan hasn't had excess capacity, excess debt, and excess employment, this cyclical slowdown is not going to slip into a full blown structural adjustment like we saw with the recessions in the 1990s
From plain main street economics they look pretty healthy, anyone else know what happened?
Germany's Economy Contracts
Now Germany too.
Germany I can understand, they have been outsourcing jobs, all sorts of problems. They are blaming a construction slump.