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Economists See Annual 5.1 Pct Fall in Japan Jan.-March GDP

Economists See Annual 5.1 Pct Fall in Japan Jan.-March GDP

   Tokyo, May 3 (Jiji Press)--Japan's real gross domestic product is believed to have contracted an annualized 5.1 pct in January-March, the first drop in three quarters, an average estimate by 12 private think tanks shows.
   On a nonannualized basis, the average forecast was for a decline of 1.3 pct.
   During the final quarter of fiscal 2020, personal consumption weakened after the government declared a second coronavirus state of emergency in January, covering Tokyo and some other prefectures.
   The Cabinet Office will release preliminary GDP data for January-March on May 18.
   The Japanese economy is expected to continue falling in April-June after the government declared a third state of emergency, effective from April 25.

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AFP-JIJI PRESS NEWS JOURNAL


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