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Japan's economy expands annualized real 2.2 pct in Q1

Xinhua, May 18, 2017 Adjust font size:

Japan's economy grew an annualized real 2.2 percent in the January-March quarter, marking the fifth successive quarter of expansion, the government said Thursday.

The preliminary reading for the gross domestic product (GDP) in the first quarter came in ahead of median economists' estimates for an expansion of 1.7 percent and followed a 1.4 percent annualized rate of expansion logged in the previous quarter, the Cabinet Office said.

In inflation-adjusted terms, gross domestic product for the three months equates to a 0.5 percent increase from the previous quarter.

Private consumption, a key component of the country's GDP, was up 0.4 percent, the data showed and solid exports also contributed to the expansion.

On a quarter-on-quarter basis, GDP rose 0.5 percent in the recording period, marginally higher than the 0.4 percent predicted by median economists. Endit