Society | Sep 11

Japan's GDP shrinks 0.5% in July: JCER

Sep 11 (Nikkei) - Japan's real gross domestic product retreated 0.5% in July compared with the previous month as rising imports led to negative external demand, the Japan Center for Economic Research reported Wednesday.

The GDP decline was the first in two months. The increase in imports outweighed gains in exports, dragging down Japan's growth by 0.9 percentage point.

Domestic private-sector demand, however, lifted economic growth 0.3 point.


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