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Financial News: Japan GDP Slips 0.5% On Year In Q1

Japan GDP Slips 0.5% On Year In Q1

06/07/2022 - 19:56:00 (RTTNews)

(RTTNews) - Japan's gross domestic product contracted an annualized 0.5 percent on year in the first quarter of 2022, the Cabinet Office said on Wednesday - beating forecasts for a decline of 1.0 percent following the 3.8 percent increase in the previous three months.

On a seasonally adjusted quarterly basis, GDP slipped 0.1 percent - again topping expectations for a decline of 0.3 percent following the 0.9 percent gain in the three months prior.

GDP capital expenditure fell 0.7 percent on quarter, missing forecasts for an increase of 0.3 percent after adding 0.4 percent in the previous quarter.

External demand slipped 0.4 percent on quarter, in line with expectations after rising 0.1 percent in the three months prior.

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