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Japan’s Q1 GDP revised up to 2.7% annualised expansion By Reuters

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© Reuters. FILE PHOTO: People wearing protective face masks walk on a pedestrian crossing, amid the coronavirus disease (COVID-19) pandemic, in Tokyo, Japan January 19, 2022. REUTERS/Issei Kato

TOKYO (Reuters) – Japan’s economy grew an annualised 2.7% in the first quarter, much higher than the initial estimate for a 1.6% expansion, revised government data showed on Thursday, driven by robust business spending.

The revised figure for gross domestic product (GDP) released by the Cabinet Office compared with economists’ median forecast for a 1.9% gain in a Reuters poll.

On a quarter-on-quarter basis, GDP advanced 0.7% in January-March, versus the initial 0.4% reading and a median forecast for a 0.5% rise.

For the full tables on the Cabinet Office’s website:

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