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Japan economy expands 1.8% in Q1
The Japanese economy contracted by 1.8 percent year-on-year in the first quarter of this year, following an upward revision from the previous estimate of 2.1 percent, primarily due to a slowdown in capital investment. The economy has recorded two consecutive quarters of growth; however, forecasts indicate that its performance in the second quarter may be impacted by tensions in the Middle East, rising inflation, and decreased consumer spending. Capital expenditure growth was also revised to a decline of 0.7 percent. Meanwhile, exports increased by 1.8 percent, while imports decreased by 0.4 percent. Additionally, the parliament approved a supplementary budget of around 19 billion dollars to address the Middle East crisis.
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