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economic growth

economic growth
Japan's economy shrank an annualised 0.5% in January-March.

KONTAN.CO.ID - TOKYO. Japan's economy shrank slightly less than initially reported in the first quarter, as private consumption remained resilient in the face of resurgent COVID-19 infections, offsetting a drop in capital spending.

The slower contraction is welcome news for policymakers worried about the world's third-largest economy's recovery this quarter amid pressures from higher energy and raw material prices, a weak yen and persistent supply disruptions.

Revised gross domestic product (GDP) data released by the Cabinet Office on Wednesday showed Japan's economy shrank an annualised 0.5% in January-March. That was a smaller drop than the preliminary reading of a 1.0% fall released last month.

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