Japan first quarter GDP unchanged at 2.2% annualised contraction after second revision

imageEconomic Indicators2 hours ago (Aug 02, 2020 08:10PM ET)

(C) Reuters. A man wearing a protective face mask, following the coronavirus disease (COVID-19) outbreak, walks on a pedestrian overpass at a business district in Toky

TOKYO (Reuters) – Japan’s economy shrank an annualised 2.2% in January-March, unchanged after a second revision, data from the Cabinet Office showed on Monday.

The additional revision for gross domestic product (GDP) compared with economists’ median forecast for a 2.8% contraction in a Reuters poll.

On a quarter-on-quarter basis GDP shrank 0.6%, also unchanged from the second preliminary reading and compared with a median forecast for a 0.7% fall.

The government published additional revisions to GDP for the January-March quarter reflecting revised capital spending data from the finance ministry, which had initially drawn fewer respondents than usual due to coronavirus-related disruptions.

For background, please see this POLL

For the full tables on the Cabinet Office’s website:

https://www.esri.cao.go.jp/en/sna/sokuhou/sokuhou_top.html

Japan first quarter GDP unchanged at 2.2% annualised contraction after second revision

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