Japan’s GDP in the first quarter of 2022 decreased by 0.1% compared to the previous quarter, according to the final government data. Preliminary data showed a decrease in GDP by 0.2%. Experts polled by Trading Economics expected a fall of 0.3% on average. The decline in GDP in terms of annual rates in January-March amounted to 0.5%, not 1%, as previously reported. The average forecast of analysts suggested a decrease of 1%. For comparison: in the fourth quarter, the Japanese economy grew by 1% qoq and 4% at an annual rate, the highest since the fourth quarter of 2020. The revision in the first quarter is due to an improved estimate of consumer spending: it increased by 0.1%, while a decrease of 0.1% was previously reported. The government spending growth estimate was downgraded to 0.5% from 0.6%. At the same time, business capital investments decreased by 0.7%, while earlier they were reported to increase by 0.5%. The estimate of the increase in exports was left at the level of 1.1%, while imports were lowered to 3.3% from 3.4%. Source: FINMARKET.RU

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