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Japan’s GDP shrank 0.2% between January and March

Gross domestic product (GDP) Japan It contracted 0.2% between January and March compared to the previous quarter, according to data…

By admin , in news , at May 18, 2022

Gross domestic product (GDP) Japan It contracted 0.2% between January and March compared to the previous quarter, according to data published by the executive this Wednesday.

The Japanese economy collapsed in the first quarter of the year mainly due to stagnation of consumption the householdAnd after closing the last quarter of 2021 with a quarterly advance of 0.9%, according to preliminary data from the Japanese Cabinet Office.

domestic consumption

World’s third largest economy as compared to the first quarter of 2021 grew up and 0.2%.

data, adjusted inflationshow that after having alternate advances with quarterly setbacks since the beginning of 2021, the Japanese economy has still not managed to recover to its pre-pandemic levels.

The new contraction is attributed to the impact of global inflation on domestic consumption and business investment. Start Which affected during the first part of the year, also as a result of the anti-infection restrictions that were still in place in Japan to prevent the Omicron version of the coronavirus.

Household spending, the main component of GDP, was flat between January and March, while capital investment incorporated down 0.6%.

State investment has also declined by 3.6 per cent. Government It launched a multi-million dollar aid plan for the economy during the last phase of last year, and is preceded by another major stimulus plan that is expected to be approved in the coming weeks.

export

value of exportOne of the main components of the country’s economy, the economy grew by 1.1% quarter-on-quarter on the back of improving global demand.

Imports increased by 3.4% due to increase in prices of raw material and the devaluation of the yen against other currencies, which subtracts 0.4 points from the total calculation of GDP.

Japan’s GDP shrank 0.2% between January and March

2022-05-18 06:13:58