Worse economic contraction than was thought for Japan in Q1 2024.
The government has revisited construction orders data and cut the GDP result even further.
- January - March real GDP annualised -2.9% vs previously revised -1.8%
- October -December 2023 real GDP revised to annualised +0.1% from previous +0.4%
- July September 2023 real GDP revised to annualised -4.0% from previous -3.7%
Higher interest rates in Japan would not seem to be the solution to this.
Bank of Japan Governor Ueda and finance minister Suzuki
