TOKYO (BLOOMBERG) - Japan's economy contracted less than initially estimated in the first quarter of the year as consumer spending held up better than expected even as the country suffered from its worst outbreak of the pandemic yet. Read more at straitstimes.com.
Consumer prices excluding fresh food climbed 0.8% in the capital in March from a year earlier, fueled by higher electricity bills and more expensive natural gas.
The continued decline in output suggests a further delay in Japan’s economic recovery with the outlook further clouded by the Russian invasion of Ukraine.
The value of the country's overseas shipments rose 17.5% from a year earlier, easing from 20.5% in November, as stellar increases in steel and chipmaking equipment cooled a touch.