Japan's economy expands annualised 2.4% in Jan-March

[TOKYO] Japan's economy grew at a 2.4 per cent annualised rate in the January-March period, expanding for a second straight quarter on a pick-up in capital spending, the government said on Wednesday.

The preliminary reading for gross domestic product compared with the median estimate of 1.5 per cent growth in a Reuters poll of economists. It followed a revised 1.1 per cent expansion in the final quarter of last year.

On a quarter-on-quarter basis, GDP grew 0.6 per cent in the first three months of this year, more than a 0.4 per cent increase expected by economists in the Reuters poll.

REUTERS