Japan’s Sputtering Economy Yet to Show Clear Signs of Recovery
- Inventories revised to show slightly bigger contribution
- Net exports tweaked a tad to reflect larger drag on growth
This article is for subscribers only.
Japan’s economy showed scant sign of a clear recovery with its narrower-than-first-estimated contraction leaving plenty of reason for continued caution among policymakers as the Bank of Japan eyes the timing of its next interest rate hike.
Gross domestic product shrank at an annualized pace of 1.8% in the three months through March, the Cabinet Office said Monday, compared with a 2% retreat reported in preliminary data. Economists had forecast the updated figures would be unchanged.