August 17, 2022

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The Japanese economic system contracted considerably extra slowly within the 1st quarter than initially estimated

By Megumi Fujikawa

Japan’s economic system contracted at a barely slower tempo than initially thought within the January-March quarter, though family and enterprise spending remained sluggish.

The world’s third-largest economic system after the US and China shrank 0.5% on an annual foundation, reflecting what would occur if the tempo of the primary quarter have been to carry for a full 12 months, revised authorities knowledge confirmed on Wednesday.

The preliminary estimate launched in Could says the economic system has contracted by an annualized 1%. The economic system contracted a revised 0.1% qoq.

The revised knowledge confirmed that non-public consumption elevated by 0.1% qoq in comparison with a flat studying within the preliminary knowledge. Capital expenditure fell 0.7% from an preliminary estimate of a 0.5% enhance.

Write to Megumi Fujikawa at [email protected]

https://www.marketwatch.com/story/japan-economy-shrank-at-slightly-slower-pace-in-1q-than-first-estimated-271654647595?rss=1&siteid=rss The Japanese economic system contracted considerably extra slowly within the 1st quarter than initially estimated

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