Japan economy contracts for first time in 3 quarters

  • 5/18/2021
  • 00:00
  • 3
  • 0
  • 0
news-picture

TOKYO, May 18 (Reuters) - Japan’s economy contracted at an annualised rate of 5.1% in January-March from the previous quarter, government data showed, posting the first decline in three quarters as a resurgence of coronavirus infections dealt a blow to consumer spending. The gross domestic product (GDP) figure translated into a quarterly drop of 1.3%, slightly bigger than economists’ median estimate of a 1.2% contraction, the Cabinet Office data showed on Tuesday. Private consumption, which makes up more than half of the economy, fell 1.4%, versus a 2.0% decline expected by economists, the data showed. For a poll story: For the tables: here (Reporting by Leika Kihara and Tetsushi Kajimoto Editing by Chang-Ran Kim) Our Standards: The Thomson Reuters Trust Principles.

مشاركة :