Reported about 1 year ago
Japan's economy experienced a more severe contraction in the first quarter than previously reported, leading to a downward revision in GDP data. The revised numbers showed a 2.9% annualized shrinkage in January-March, impacting the Bank of Japan's growth forecasts and potentially delaying the next interest rate hike. The adjustments were attributed to corrections in construction orders data, signaling challenges for Japan's fragile economic recovery.
Source: YAHOO