Japanese GDP contraction during the first quarter
Tokyo on May 17/ WAM/ The Japanese economy shrinkled by 0.7% during the first quarter of this year, applied to the cabinet data that indicated that weak consumer spending was affected, the simplicity of inflation and increased costs of imports to growth.
This comes as the government of Japanese Prime Minister Shiggero Ishiba is preparing to establish economic belts to help alleviate the effect of American inflation and customs duties prior to the Senate elections this summer.
Economists suggested that Japan’s growth slowed in the second quarter or later this year, depending on progress in negotiations with the United States aimed at reducing Trump customs duties.
Analysts considered that the Japanese gross domestic product shrinkage shows the slowdown in consumer spending, which failed to compensate for the decrease in external demand, explaining that the high prices forced consumers to spend more, but special consumption did not rise at the real value about half a year.
Capital investment increased by 1.4%, supported by demand for semiconductor production preparations and employment technologies and a chronic shortage of employment within Japan.
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