Japan's economy likely contracted slightly in the first quarter as corporat...
TOKYO - Japan’s economy likely contracted slightly in the first quarter as corporate and consumer spending weakened, a Reuters poll showed on Friday.
Gross domestic product is expected to have fallen 0.2% in January-March on an annualized basis, the poll of 18 economists showed, after it expanded 1.9% in the fourth quarter last year. “We expect consumer spending declined as their sentiment deteriorated led by factors such as rises in food prices.”
External demand - or exports minus imports - was still expected to add 0.3 percentage point to growth in the first quarter, the poll found, after it subtracted 0.3 percentage point from GDP growth in the previous quarter.
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