JEQ - Japan Q1 GDP growth revised higher amid post-pandemic upswing in domestic spending
2023-06-08 00:34:52 ET
-
On an annualized basis, the Japanese economy expanded 2.7%, significantly better than the preliminary 1.6% figure and higher than forecasts of 1.9%.
-
The Japanese economy advanced 0.7% Q/Q in Q1 of 2023, compared with a flash reading of a 0.4% expansion and after an upwardly revised 0.1% rise in the prior period, exceeding market forecasts of a 0.5% gain.
-
This was the second straight quarter of economic growth and the steepest pace since Q2 of 2022, as private consumption rose the most in three quarters after tough border controls were fully lifted.
-
Capital expenditure rose 1.4% in the first quarter of 2023, upgraded from the preliminary estimate of 0.9%.
-
Private consumption was trimmed slightly to 0.5% from 0.6% in the previous estimate.
-
The economy expanded 1.1% last year, slowing from a 2.1% rise in 2021 due to lingering global headwinds.
For further details see:
Japan Q1 GDP growth revised higher amid post-pandemic upswing in domestic spending