The Financial Express
Swasti Lankabangla Swasti Lankabangla

Japan Q1 GDP unchanged at 2.2pc annualised contraction after second revision

| Updated: August 05, 2020 12:37:15

File photo (collected) File photo (collected)

Japan’s economy shrank an annualised 2.2 per cent in January-March, unchanged after a second revision, data from the Cabinet Office showed on Monday.

The additional revision for the gross domestic product (GDP) compared with economists’ median forecast for a 2.8 per cent contraction in a Reuters poll.

On a quarter-on-quarter basis GDP shrank 0.6 per cent, also unchanged from the second preliminary reading and compared with a median forecast for a 0.7 per cent fall, reports Reuters.

The government published additional revisions to GDP for the January-March quarter reflecting revised capital spending data from the finance ministry, which had initially drawn fewer respondents than usual due to coronavirus-related disruptions.

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