Japan's Q1 GDP contraction revised to 1.8% annualized due to downgraded capital expenditure.

Japan's Q1 GDP contraction was revised to 1.8% annualized, less severe than the initial 2% estimate, due to a downgrade in capital expenditure. The economy still contracted due to weak private consumption, but the decrease in capital spending was not as severe as anticipated. Analysts believe Japan may have hit bottom during the first quarter, but challenges like a weak yen and automaker plant disruptions persist.

June 10, 2024
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