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MNI BRIEF: Japan's Q1 GDP Posts First Contraction In Two Qtrs

(MNI) Tokyo
TOKYO (MNI)

Japan's economy posted the first contraction in two quarters for the January-March period in the wake of weak private consumption and net exports, preliminary GDP data released by the Cabinet Office on Wednesday showed.

First quarter GDP fell 0.2% q/q, or an annualised -1.0% following a revised +0.9% q/q, or an annualized revised +3.8% for the fourth quarter of 2021. The Q1 contraction was better than the MNI median forecast that pointed to a fall of 0.4% q/q, or an annualised -1.8%.

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Japan's economy posted the first contraction in two quarters for the January-March period in the wake of weak private consumption and net exports, preliminary GDP data released by the Cabinet Office on Wednesday showed.

First quarter GDP fell 0.2% q/q, or an annualised -1.0% following a revised +0.9% q/q, or an annualized revised +3.8% for the fourth quarter of 2021. The Q1 contraction was better than the MNI median forecast that pointed to a fall of 0.4% q/q, or an annualised -1.8%.