Japan Economy Grows More Than Initial Estimate

Japan’s economy expanded more than the government initially estimated in the first quarter, adding to evidence that the world’s third-largest economy will sustain its recovery this year.

Gross domestic product grew an annualized 4.7 percent in the three months ended March 31, the Cabinet Office said in Tokyo today, compared with a preliminary estimate for a 4.1 percent expansion. The median forecast of 18 economists surveyed by Bloomberg News was for 4.5 percent growth.