Reported about 1 year ago
Revised data from the Japanese government showed that Japan's economy contracted less than initially reported in the first quarter of the year, with a revised 1.8% annualized GDP decline. This revision was mainly attributed to an upgrade in capital expenditure, while private consumption fell as rising living costs affected household finances. Analysts believe that the Japanese economy may have hit a bottom in Q1, although challenges like a weak yen and disruptions in the automotive industry persist. The revised GDP figures influence expectations regarding potential rate hikes by the Bank of Japan, which recently shifted from ultra-loose monetary policies.
Source: YAHOO