July 01, 2024 02:09 GMT
MNI BRIEF: Japan Q1 GDP Revised Lower On Public Investment
(MNI) Tokyo
(MNI) TOKYO
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Japan's Q1 economy contracted at a faster pace than previously estimated as public investment was revised lower, updated data released by the Cabinet Office showed on Monday.
The economy contracted 0.7% q/q, or annualized -2.9%, compared previous estimates of -0.5% q/q and an annualized -1.8%.
Public investment fell 1.9% q/q, revised down from +3.0%, whilst the GDP contribution from public investment was revised to -0.1 pp from +0.2 pp.
Private consumption and capital investment remained at -0.7% q/q and -0.4% q/q respectively.
The contribution of net exports was unrevised at -0.4 pp.
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