Japan's GDP grows more than initial reading in 1st quarter

Tokyo

JAPAN'S economy grew slightly more than the government initially reported for the first quarter, helped by a fractional revision in private consumption and business investment that dropped less than first thought.

Gross domestic product expanded by an annualised 1.9 per cent in the three months ended March 31, more than a preliminary reading of 1.7 per cent, according to revised data from the Cabinet Office released on Wednesday. The median estimate of economists surveyed by Bloomberg was for a 1.9 per cent increase.