KONTAN.CO.ID - TOKYO. Japan's economy grew more than initially thought in January-March, revised data showed on Thursday, as a post-pandemic pickup in corporate and consumer spending helped offset the hit to exports from slowing global demand. With inflation running at a four-decade high, further growth in the world's third-largest economy will depend on sustained wage hikes, which the Bank of Japan and the government regard as core policy objectives. Japan's gross domestic product (GDP) expanded an annualised 2.7% in January-March, against a preliminary estimate of a 1.6% growth and much higher than economists' median forecast for a 1.9% rise.
Japan Upgrades Q1 GDP on Solid Capex
KONTAN.CO.ID - TOKYO. Japan's economy grew more than initially thought in January-March, revised data showed on Thursday, as a post-pandemic pickup in corporate and consumer spending helped offset the hit to exports from slowing global demand. With inflation running at a four-decade high, further growth in the world's third-largest economy will depend on sustained wage hikes, which the Bank of Japan and the government regard as core policy objectives. Japan's gross domestic product (GDP) expanded an annualised 2.7% in January-March, against a preliminary estimate of a 1.6% growth and much higher than economists' median forecast for a 1.9% rise.