Japan revises upward GDP data in Q1 to 14.2 contraction

• Source: Xinhua
• [12:26 June 11 2009]
• Comments

Japanese economy contracted an annualized pace of 14.2 percent in the first quarter of 2009, a smaller contraction than initially estimated 15.2 percent, official data showed Thursday.

The growth in gross domestic product corresponds to a contraction of 3.8 percent from the previous quarter through December, revised upward from an earlier announced 4.0 percent shrinkage.

GDP is the total value of goods and services produced domestically. Real GDP figures are adjusted for price and seasonal variations.