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 the 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, reports Reuters.
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.
