Japan Q1 growth faster than ex­pected

New Straits Times - - Business -

TOKYO: Japan re­ports that its econ­omy grew at a fasterthan-ex­pected 2.2 per cent an­nual pace in the Jan­uaryMarch pe­riod. Econ­o­mists had fore­cast a strong ex­pan­sion in the first quar­ter for the world’s third-largest econ­omy, helped by a re­cov­ery in ex­ports and con­sumer spend­ing. But most es­ti­mates had not topped two per cent. The fig­ures re­leased yes­ter­day are pre­lim­i­nary and are likely to be re­vised. The econ­omy grew at a 1.2 per cent pace in the last quar­ter of last year.

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