Japan’s Q1 GDP Falls Less Than First Thought on Stronger Consumption

Japan’s Q1 GDP Falls Less Than First Thought on Stronger Consumption
People wearing protective masks are reflected in the mirror at a shopping mall in Tokyo amid the coronavirus disease (COVID-19) outbreak on Aug. 19, 2021. Athit Perawongmetha/Reuters
Reuters
Updated:

TOKYO—Japan’s economy shrank slightly less than initially reported in the first quarter, as private consumption remained resilient in the face of resurgent COVID-19 infections and companies rebuilt their stock, offsetting a drop in business spending.

While the slower contraction is welcome news for policymakers hoping the economy will return to growth this quarter, persistent supply chain disruptions remain a risk to economic momentum in April-June.