International Economic

Japan GDP contracts more than expected, clouds BoJ rate plans

By Frank Prenesti

Date: Thursday 16 May 2024

(Sharecast News) - Japan's economy unexpectedly shrank in the first quarter as consumers tightened their belts in response to stagnant wage growth, companies cut spending and exports fell.
Gross domestic product contracted 2% on an annualised basis in the three months to March 30, the Cabinet Office said on Thursday. The...

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