Business | May 18

Japan's Jan.-Mar. GDP contracts annualized 1.0 percent

May 18 (NHK) - Japan's gross domestic product contracted an annualized 1.0 percent in real terms from January to March, compared to the previous quarter.

Preliminary GDP data released by the Cabinet Office on Tuesday shows a drop in public investment. And, personal consumption, which accounts for more than half of GDP, was almost flat.

Quasi-emergency measures were in place across Japan during the quarter, due to the spread of the Omicron variant of the coronavirus.

The figures also showed the country's GDP for fiscal 2021 that ended in March grew 2.1 percent in real terms, returning to positive territory for the first time in three years.

Source: ANNnewsCH

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