Japan's economy shrank slightly in the final quarter of last year, though analysts are optimistic about the country's prospects for this year. Japan's GDP for 2010 was 5.57 trillion US dollars. That makes the country fall behind China, becoming the third-largest economy in the world.
Japan's GDP shrank 0.3 percent in the October to December period from the previous quarter, marking the first contraction in five quarters. That translates into an annualized contraction of 1.1 percent, far worse than U.S. growth of 3.2 percent in the same quarter.
Analysts say that's hurt by the expiry of government incentives for car purchases. But they expect a recovery this year on stronger exports to China and other parts of fast-growing Asia.
The country's Economics Minister, Kaoru Yosano, says while weakness remains, Japan's economy is expected to pick up after coming a standstill in the final quarter last year.
vivi笔记：
third-largest economy：第三大经济体
previous quarter：上个季度
annualized contraction：年率收缩
government incentives：政府鼓励措施
Economics Minister：经济部长
pick up：站起来
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