TOKYO, May 19 (News On Japan) –
Japan’s GDP, or gross domestic product, grew at an annualized rate of 2.1% from January to March, marking a second consecutive quarter of positive growth, with the impact of Middle East tensions remaining relatively limited during the period.
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According to figures released by the Cabinet Office on May 19th, real GDP for the January-March quarter rose 0.5% from the previous quarter. On an annualized basis, the economy expanded 2.1%, maintaining positive growth for a second straight quarter.
Exports, including automobiles shipped to the United States that had been affected by Trump-era tariffs, recovered with a 1.7% increase from the previous quarter. Personal consumption, which accounts for more than half of GDP, also remained firm, rising 0.3% for a fifth consecutive quarter of growth as spending on dining out and clothing increased.
Meanwhile, the impact of tensions in the Middle East was seen as relatively minor during the quarter, although declining inventories caused by the release of private-sector petroleum reserves are believed to have acted as a downward pressure on the economy.
Source: TBS
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