Economist: Japan's revised GDP data may confirm economic contraction in the first quarter

Odaily Planet Daily News: Economists say Japan's revised GDP data, due next week, is likely to confirm that the economy shrank in the first quarter of 2025. A corporate survey released on Monday showed that capital expenditures may not see major adjustments. Preliminary data released in mid-May showed that real GDP in the January-March quarter shrank at an annualized rate of 0.7%. Takeshi Minami, an economist at the Norinchukin Economic Research Institute, said: "The economy is likely to shrink for the second consecutive quarter in the current April-June period as wage growth has not kept up with the continued rise in food prices, including rice, consumer spending is likely to remain sluggish, and Trump's tariffs are expected to continue to put pressure on exports and capital investment." (Jinshi)