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Japan economy expands annualised 1.7% in Q1, dodges recession

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Japan's economy dodged recession in the January-March quarter, expanding an annualised 1.7 per cent thanks to firm exports and a boost from the extra day from the leap year, government data showed on Wednesday.

[TOKYO] Japan's economy dodged recession in the January-March quarter, expanding an annualised 1.7 per cent thanks to firm exports and a boost from the extra day from the leap year, government data showed on Wednesday.

The preliminary figure for gross domestic product compared with the median estimate of a 0.2 per cent expansion in a Reuters poll of economists.

It followed a revised 1.7 per cent annualised decline in October-December, dodging two straight quarters of contraction, which is defined as a technical recession.

On quarter-on-quarter basis, the economy grew 0.4 per cent in the first quarter.

REUTERS