Japan's economy shrank an annualised 2.2% in January-March, less than the initial estimate of a 3.4% contraction, revised data from the Cabinet Office showed Monday.
FILE PHOTO: Employees wearing protective face masks and face guards work on the automobile assembly line as the maker ramps up car production with new security and health measures as a step to resume full operations, during the outbreak of the coronavirus disease , at the Kawasaki factory of Mitsubishi Fuso Truck and Bus Corp., owned by Germany-based Daimler AG, in Kawasaki, south of Tokyo, Japan May 18, 2020.
TOKYO - Japan’s economy shrank an annualised 2.2% in January-March, less than the initial estimate of a 3.4% contraction, revised data from the Cabinet Office showed Monday. The revised figure for gross domestic product compared with economists’ median forecast for a 2.1% contraction in a Reuters poll.
On a quarter-on-quarter basis GDP shrank 0.6% compared with a 0.9% contraction in the initial reading and a median forecast of a 0.5% fall.
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