Japan’s gross domestic product contracted an annualized 3.9 percent on year in the first quarter of 2021, the Cabinet Office said in Tuesday’s final reading.
That exceeded expectations for a decline of 4.8 percent following the 11.7 percent surge in the three months prior.
On a quarterly basis, GDP was down 1.0 percent - again beating forecasts for a decline of 1,2 percent following the 2.8 percent increase in the previous three months.
Capital expenditure was down 1.2 percent on quarter, matching expectations following the 4.3 percent gain in the previous quarter.
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