TOKYO : Japan's economy grew more than initially thought in January-March, revised data showed on Thursday, as a post-pandemic pickup in corporate and consumer spending helped offset the hit to exports from slowing global demand.With inflation running at a four-decade high, further growth in the world's t
TOKYO : Japan's economy grew more than initially thought in January-March, revised data showed on Thursday, as a post-pandemic pickup in corporate and consumer spending helped offset the hit to exports from slowing global demand.
Japan's gross domestic product expanded an annualised 2.7 per cent in January-March, against a preliminary estimate of a 1.6 per cent growth and much higher than economists' median forecast for a 1.9 per cent rise. The January-March expansion translates to a 0.7 per cent quarter-on-quarter rise, data released by the Cabinet Office showed, against a preliminary reading of 0.4 per cent and economists' forecast for a 0.5 per cent increase.
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