Japan Jan.-March GDP Seen Falling by Annualized 1.7 Pct
Tokyo, May 1 (Jiji Press)--Japan's real gross domestic product in January-March is believed to have logged an annualized decrease of 1.7 pct from the previous quarter, according to think tanks.
The figure is the average estimate among 10 private-sector think tanks.
The retreat of 0.4 pct on a nonannualized basis, the first negative growth in two quarters, reflects fraudulent testing scandals at Japanese automakers as well as the impact of the Noto Peninsula earthquake that struck central Japan on New Year's Day.
The Cabinet Office is scheduled to release its preliminary GDP data for January-March on May 16.
Private consumption, a pillar of domestic demand, is estimated to have declined 0.1 pct due to sluggish new automobile sales and the weakening of consumers' purchasing power amid inflation.
(2024/05/01-12:37)
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