Japan Q1 GDP contracts for first time in 3 quarters, records annualized -5.1% (Update)

[Asia Economy Reporter Kwon Jae-hee] Japan's GDP in the first quarter of this year showed negative growth for the first time in three quarters.

According to Bloomberg on the 18th, the Cabinet Office of Japan announced that the real GDP (flash estimate) for the first quarter of 2021 decreased by 1.3% compared to the previous quarter. The annualized rate, assuming this trend continues for a year, is -5.1%.

This is lower than economists' forecast of -4.5%.