Japan's economy remained mired in recession late last year, shrinking 0.4% in annualized terms for the third straight quarter of contraction on feeble demand both at home and overseas. Growth for all of 2012 was 1.9%, after a 0.6% contraction in 2011 & a 4.7% increase in 2010 and a 5.5% contraction in 2009. The figures were worse than expected, it had forecast the economy may have emerged from recession late last year as the Japanese yen weakened against other major currencies, giving a boost to Japanese export manufacturers.