Japan’s economy expanded for 2nd straight quarter

National Business

Japan’s economy expanded for 2nd straight quarter

The Associated Press

May 19, 2019 05:52 PM

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In this April 15, 2019, photo, people cross the street in Tokyo. The Japanese government says the economy grew at an annual pace of 2.1% in the first quarter, marking the second straight quarter of expansion. The Cabinet Office said Monday, May 20, 2019, seasonally adjusted real gross domestic product, the total value of a nation’s goods and services, grew 0.5% in the January-March period from the previous quarter.


Koji Sasahara

AP Photo


TOKYO

The Japanese government says the economy grew at an annual pace of 2.1% in the first quarter, marking the second straight quarter of expansion.

The Cabinet Office said Monday seasonally adjusted real gross domestic product, the total value of a nation’s goods and services, grew 0.5% in the January-March period from the previous quarter.

The annual pace shows how much GDP would have grown if that pace had continued for the year.

Healthy public investment and private residential investment helped boost growth during the quarter, according to the data.

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Japan’s economy has recorded moderate growth under Prime Minister Shinzo Abe’s “Abenomics” anti-deflation programs but contracted some recent periods because of natural disasters.

A slowdown in Pacific trade as China’s economy slows over President Donald Trump’s tariffs would hurt export-reliant Japan.

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