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Japan’s Economy Ends Two Years of Steady Growth
Japan’s gross domestic product contracted by 0.2% in January-March, ending a two-year run of continuous expansion, according preliminary government data.
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Japan’s gross domestic product contracted by 0.2% in January-March, ending a two-year run of continuous expansion, according preliminary government data.
The Cabinet Office says quarterly consumer spending was flat, and business investment shrank by 0.1% on a quarter-to-quarter basis. Annualized overall GDP fell 0.6% compared with the previous period.
But economists tell The Japan Times that the country’s economic fundamentals remain strong and suggest modest growth for the full year. They note that a heartier result may be unveiled when more precise data are reported in early June.
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