Japan limits GDP contraction in the first quarter to 0.1%

MADRID, 8 Jun. (EUROPA PRESS) -

Japan's gross domestic product (GDP) experienced a contraction of 0.1% in the first quarter of 2022 compared to the previous three months, one tenth less than initially calculated and in contrast to the expansion of 1% in the last quarter of 2021, according to the second estimate of the data published this Wednesday by the Japanese government.

The smaller fall in activity in Japan between January and March reflects the upward revision of the evolution of household consumption, which increased by 0.1% instead of remaining flat as calculated in the first estimate.

On the other hand, public investment fell by 3.9% quarterly, compared to the 3.6% initially estimated, while gross fixed capital formation fell by 1.4%, compared to the 0.6% decrease estimated previously.

In annualized terms, Japan's economy saw a 0.5% contraction in the first quarter of 2022, half of what was initially estimated.