Japan Dodges Recession Thanks to Consumers, Public Spending
- Private consumption recovers while business spending slumps
- Expansion of GDP exceeds forecasts by all surveyed economists
Japan Avoids 1Q Recession With a Return to Growth
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Japan’s economy dodged a recession last quarter as gains in government and consumer spending compensated for a slide in business investment.
Gross domestic product expanded by an annualized 1.7 percent in the three months ended March 31, exceeding all forecasts in a Bloomberg survey of economists, a Cabinet Office report showed on Wednesday. The October-to-December quarter was revised to a 1.7 percent contraction, worse than the previous estimate of a 1.1 percent drop.