Japan's gross domestic product (GDP) experienced a seasonally adjusted contraction of 0.5 percent quarter-over-quarter in Q1 2024, according to the Cabinet Office's announcement on Thursday.
This decline surpassed the anticipated decrease of 0.3 percent, following an increase of 0.2 percent in the prior quarter.
On an annual basis, GDP fell by 2.0 percent, again exceeding the forecasted decline of 1.5 percent, after a growth of 0.4 percent in the previous three months.
Capital expenditure saw a drop of 0.8 percent quarter-over-quarter, following a rise of 1.8 percent in the preceding quarter. External demand decreased by 0.3 percent after a 0.2 percent gain. Additionally, private consumption declined by 0.7 percent, after a 0.4 percent dip in Q4.
