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Japan GDP growth revised up in Q1 to 0.5 percent

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Staff writer |
Japan GDP
Asian economy   Private consumption grew faster than expected in Japan

The Japanese economy expanded 0.5 percent on quarter in the March quarter of 2016, compared to an initial estimate of a 0.4 percent growth.

Private consumption grew faster than expected while business spending fell much lower than anticipated and government spending and exports were in line with expectations, final figures showed.

In the first quarter, domestic demand grew 0.3 percent, higher than a preliminary reading of 0.2 percent and added 0.3 percentage points to growth.

Private consumption went up 0.6 percent, compared to an initial estimate of a 0,5 percent and adding 0.4 percentage points to growth. Private residential investment fell 0.7 percent, lower than an earlier projection of a 0.8 percent decline.

Private non-residential investment shrank 0.7 percent, compared to a preliminary figure of a 1.4 percent contraction and substracted 0.1 percent off growth. Inventories substracted 0.1 percent off growth, compared to first estimate of zero contribution.

Public investment shrank 0.7 percent, compared to a preliminary figure of a 0.3 percent rise and made no contribution to growth while government spending rose 0.7 percent (in line with estimates), adding 0.2 percent.

External demand contributed 0.2 percentage point to growth: exports grew 0.6 percent (+0.6 percent in a preliminary figure) while imports fell 0.4 percent (-0.5 percent in an earlier reading) .

On an annualized basis, the economy advanced 1.9 percent, compared to an earlier figure of a 1.7 percent expansion. It is the strongest growth in four quarters.


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