Japan's economy likely shrank in first quarter on weak domestic demand, exports: Reuters poll [Reuters]
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Source: Reuters
Japan's economy likely shrank in first quarter on weak domestic demand, exports: Reuters poll TOKYO (Reuters) - Japan’s economy likely contracted slightly in the first quarter as corporate and consumer spending weakened, a Reuters poll showed on Friday. Exports also deteriorated amid trade disputes and weaker global demand, hurting the trade-reliant economy. Gross domestic product (GDP) is expected to have fallen 0.2% in January-March on an annualized basis, the poll of 18 economists showed, after it expanded 1.9% in the fourth quarter last year. That would translate into a flat reading on a quarter-on-quarter basis, after the economy grew 0.5% in the October-December quarter, the poll showed. “Firms likely postponed their capital spending on worries about the global economic slowdown and uncertainty over trade talks such as between the United States and China,” said Kentaro Arita, senior economist at Mizuho Research Institute. “We expect consumer spending declined as their sentiment
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