Japan's economy expands at annualised real 1.6% in Jan-Mar quarter of 2023

Japan's economy expanded at an annualised real 1.6 per cent in the January-March quarter of 2023, the government said in a report on Wednesday.

The Cabinet Office's preliminary data showed the growth in the recording period marked the first expansion in three quarters, reports Xinhua news agency.

In terms of real gross domestic product, meaning the total value of goods and services produced in the country adjusted for inflation, the economy grew 0.5 per cent from the previous quarter, the office also said.

The world's third-largest economy marked its second successive year of growth in fiscal 2022, expanding 1.2 per cent in real terms, the government also said in its preliminary report.

--IANS

ksk/