Japan Q1 GDP (revised) -2.9% (from -1.8%)

Worse economic contraction than was thought for Japan in Q1 2024.

The government has revisited construction orders data and cut the GDP result even further.

• January – March real GDP annualised -2.9% vs previously revised -1.8%
• October -December
  2023 real GDP revised to annualised +0.1% from previous +0.4%
• July September 2023
  real GDP revised to annualised -4.0% from previous -3.7%

Higher interest rates in Japan would not seem to be the solution to this.

Bank of Japan Governor Ueda and finance minister Suzuki

This article was written by Eamonn Sheridan at www.forexlive.com.