URGENT: Japan's Jan.-March GDP contracts annualized real 1.0%

Economy Society

Japan's economy in the January-March period contracted a real 0.2 percent from the previous quarter, or an annualized 1.0 percent, government data showed Wednesday. Japan saw the first contraction in two quarters of real gross domestic product, or the total value of goods and services produced in a country adjusted for inflation, according to the preliminary data released by the Cabinet Office. In fiscal 2021 through last March, the world's third-largest economy grew 2.1 percent in real terms, up for the first time in three years.

Kyodo News

Kyodo News Society