Japan's GDP grew by 2.1% in the first quarter

The Japanese economy grew by 2.1% in the first quarter compared to the same period a year earlier, accelerating growth against a 1.6% increase in the last quarter of 2018. The acceleration of economic growth was a surprise for economists, who had expected a 0.2% decline in GDP. The volume of Japanese GDP in monthly terms also unexpectedly showed an increase of 0.5%, while analysts had expected it to decline by 0.1%. The main factor behind the growth of the Japanese economy in the last quarter was an increase in government spending by 1.5%. At the same time, export, which is one of the main engines of the economy, declined by 2.4%, noting the maximum rate of decline since 2015. The volume of imports fell by 4.6% for the quarter. Business reduced investment by 0.3%, consumer spending decreased by 0.1%.

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