Japan’s economic growth decreased by 1.8 percent
reported Mehr Correspondent Analysts expect the Japanese economy to have gradually started to recover in the first three months of the year, although the persistent weakness of the yen and disruptions at Japan’s major auto factories will continue to hamper the outlook for the current quarter.
New data from the Japanese Cabinet Office showed that Japan’s gross domestic product decreased by 1.8% in the first quarter compared to the previous three months; While this contraction was 1.9% predicted.
The revised gross domestic product data was based on speculation that the Bank of Japan may reconsider its policy this week on reducing purchases of Japanese government bonds as part of efforts to ease Discuss the monetary stimulus to curb the weakening of the yen.
Investors are looking for clues about when the central bank will raise rates further, which in March raised rates for the first time since 2007 in a historic reversal from ultra-easy monetary policy. increased.
Private consumption, which accounts for more than half of Japan’s economy, fell 0.7 percent in the first quarter, unchanged from the initial estimate, as rising living costs weighed on household finances. brings. This is the fourth consecutive quarter of decline.
The data shows that foreign demand, or exports minus imports, decreased by 0.4 percent of overall GDP. is, while domestic demand has decreased by 0.1 units.
