Japan's economy shrinks more than expected in Q4

LOS ANGELES (MarketWatch)
Japan's economy shrank by more than expected in the October-December quarter, as a strong yen and collateral economic damage from flooding in Thailand took their toll
Real gross domestic product contracted by 0.6% during the quarter, the Cabinet Office reported Monday
The result was deeper than expected falls of 0.3% and 0.4% in separate economist surveys by Reuters and Dow Jones Newswires, respectively
On an annualized basis, the economy contracted 2.3% in the final quarter of 2011
In the July-September quarter, Japan's GDP had grown by 1.4% quarter-on-quarter