Japanese gross domestic product unexpectedly grew in the first quarter of year, as the world’s third-largest economy was boosted by better-than-expected exports.
Data released by the country’s Cabinet Office on Monday showed that annualised growth in Japan came in at 2.1 per cent in the January to March period. That figure was in stark contrast to the 0.2 per cent contraction in growth predicted by economists polled by Reuters, and above the 1.6 per cent expansion rate registered in the fourth quarter.
On a quarter-on-quarter basis, the Japanese economy grew by 0.5 per cent, versus economists’ forecasts of flat growth.
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