The Japanese economy contracted at a slightly slower pace than initially expected in the first quarter, although household and business spending remained sluggish.
The third largest economy, behind the US and China, shrank 0.5% year-on-year, reflecting what would happen if growth continued throughout the year, according to revised figures.
Preliminary estimates indicate that the economy shrank 1% year-on-year in May, down 0.1% from the previous quarter.
The revised data showed that private consumption increased by 0.1% compared to the previous quarter, compared to the zero change expected by the preliminary data.
Capital expenditures decreased by 0.7% compared to the initial estimates for an increase of 0.5%.
Source: Capital
I am Derek Black, an author of World Stock Market. I have a degree in creative writing and journalism from the University of Central Florida. I have a passion for writing and informing the public. I strive to be accurate and fair in my reporting, and to provide a voice for those who may not otherwise be heard.
