Japan's Q1 GDP revised up to 3.9% annualised contraction

TOKYO, June 8 (Reuters) – Japan’s economy shrank 3.9% in the first quarter, slightly better than the initial estimate of a 5.1% contraction, revised government data showed, posting its first decline in three quarters as private spending took a hit from a resurgence in coronavirus infections.

The revised figure for gross domestic product (GDP) released by the Cabinet Office on Tuesday compared with economists’ median forecast for a 4.8% contraction in a Reuters poll.

On a quarter-on-quarter basis GDP declined 1.0%, also better than the initial reading of minus 1.3% and a median forecast for a 1.2% fall.

For background, please see this POLL

For the full tables on the Cabinet Office’s website: here

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