Japan’s Cabinet Office released its final gross domestic product (GDP) data for Japan late Tuesday evening. Japan’s GDP increased by 0.5% in the first quarter, up from the preliminary reading of a 0.4% growth, after a 0.3% drop in the fourth quarter.
Business spending fell 0.7% in the first quarter, up from a preliminary reading of a 1.4% drop, while household spending increased 0.6%, unchanged from a preliminary reading.
On a yearly basis, Japan’s economy expanded 1.9% in the first quarter, up from the preliminary reading of a 1.7% rise, after a 1.1% decline in the fourth quarter.
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