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Financial News: Japan GDP Slides Into Contraction In Q1

Japan GDP Slides Into Contraction In Q1

05/15/2018 - 20:05:00 (RTTNews)

(RTTNews) - Japan's gross domestic product contracted 0.2 percent on quarter in the first three months of 2018, the Cabinet Office said in Wednesday's preliminary reading.

That missed expectations for a flat reading following the downwardly revised 0.1 percent gain in the three months prior (originally 0.4 percent).

On a seasonally adjusted annualized basis, GDP was down 0.6 percent - again missing forecasts for a decline of 0.1 percent following the downwardly revised 0.6 percent gain in the previous three months (originally 1.6 percent).

Nominal GDP was down 0.4 percent on quarter, missing expectations for a gain of 0.1 percent following the 0.1 percent gain three months earlier.

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