Japan revises Q1 GDP contraction to annualised 1.8% By Reuters

TOKYO (Reuters) – Japan’s economy contracted at a narrower pace of 1.8% annualised in the January-March period from the previous quarter, government data showed on Monday.

The revised figure for gross domestic product (GDP) released by the Cabinet Office compared with economists’ median forecast for a 1.9% drop in a Reuters poll and the initial reading of a 2.0% decline.

On a quarter-on-quarter basis, GDP shrank 0.5%, compared with the initial estimate of a 0.5% drop and a median forecast for a 0.5% fall.