Japan Q1 GDP unchanged at 2.2% annualised contraction after 2nd revision
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[TOKYO] 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 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.
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.
REUTERS
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