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Japan economy contracted in April-June, say economists

JIJI

Forty-one economists on average expect Japan’s seasonally adjusted gross domestic product in April-June to have shrunk a real 1.55 percent from the previous quarter at an annual rate, compared with the 0.72 percent growth estimated last month, a survey showed on Tuesday.

Exports and consumer spending are thought to have decreased in the first quarter of fiscal 2015, while corporate capital spending is believed to have leveled off, according to the survey by the Japan Center for Economic Research.

Meanwhile, the economists estimate that Japan’s GDP will rise a real 2.48 percent in July-September on an annualized basis.

The Cabinet Office is scheduled to release preliminary GDP data for April-June on Monday.