Japan’s January-March 2.2 pct GDP decline unchanged in revised data

Japan’s economy shrank an annualized real 2.2 percent in the January-March period from the previous quarter, with the figure unchanged from that previously released, revised government data showed Monday.

According to the Cabinet Office, in real gross domestic product, the total value of goods and services produced in the country adjusted for inflation, the contraction equates to a 0.6-percent decrease on a seasonally adjusted quarterly basis.

The office’s latest revision comprises economic data that was not available for the initial survey and was delayed due to the coronavirus pandemic.