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The revised data released by Japan showed that the first quarter GDP was still down 0.6%, the same as the initial value, and if the economy was still weak in 4-6 months, the economy could decline.
Photo: two women in kimono pass a shopping mall in Tokyo, Japan, on August 2017. REUTERS/Kim Kyung-Hoon
According to the Reuters survey's median estimate, analysts had expected the GDP annual rate to be revised down to 0.4% in the first quarter, but consumer spending has offset the growth of capital expenditure.
The first quarter economic contraction ended the eight consecutive quarter of economic growth in the --1980 era, the longest continuous growth period since the bubble economy.
In the first quarter, consumer spending fell slightly, which could exacerbate fears that the economy has reached the top.
In the first quarter, the real GDP adjusted by price adjustment still fell by 0.2% compared with the previous quarter, which is also the same as the initial value. The Reuters survey was estimated to fall by 0.1%.
In the first quarter, private consumption revised down 0.1% compared with the previous quarter, and the initial value was flat. Private consumption accounts for more than half of GDP.
In the first quarter, capital expenditure was revised up by 0.3% over the previous quarter, higher than the Reuters survey estimate of 0.2%, or 0.1% of the initial value.
However, in the first quarter, domestic demand revised to GDP 0.2 percentage points, which is the same as the initial value.
The contribution of net exports (exports minus imports) to GDP is 0.1 percentage points, which is also the same as the initial value.
After household spending and weak industrial production in April, the decline in private consumption may exacerbate economic unrest.
Economic analysts have warned that if the economic indicators in May and June did not improve, the possibility of a recession in the two quarter would be higher.


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