The Japanese economy contracted somewhat more slowly in the 1st quarter than initially estimated

By Megumi Fujikawa

Japan’s economy contracted at a slightly slower pace than originally thought in the January-March quarter, although household and business spending remained sluggish.
The world’s third-largest economy after the US and China shrank 0.5% on an annual basis, reflecting what would happen if the pace of the first quarter were to hold for a full year, revised government data showed on Wednesday.
 
The preliminary estimate released in May says the economy has contracted by an annualized 1%. The economy contracted a revised 0.1% qoq.
 
The revised data showed that private consumption increased by 0.1% qoq compared to a flat reading in the preliminary data. Capital expenditure fell 0.7% from an initial estimate of a 0.5% increase.
 
 
Write to Megumi Fujikawa at megumi.fujikawa@wsj.com