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
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
