TOKYO (Reuters) – Japan’s economy shrank an annualised 2.2% in January-March, less than the initial estimate of a 3.4% contraction, revised data from the Cabinet Office showed Monday.
The revised figure for gross domestic product compared with economists’ median forecast for a 2.1% contraction in a Reuters poll.
On a quarter-on-quarter basis GDP shrank 0.6% compared with a 0.9% contraction in the initial reading and a median forecast of a 0.5% fall.
(Reporting by Kaori Kaneko; Editing by Chang-Ran Kim)
