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Japan GDP Slides Into Contraction In Q1

Japan's gross domestic product contracted 0.2 percent on quarter in the first three months of 2018, the Cabinet Office said in Wednesday's preliminary reading.

That missed expectations for a flat reading following the downwardly revised 0.1 percent gain in the three months prior (originally 0.4 percent).

On a seasonally adjusted annualized basis, GDP was down 0.6 percent - again missing forecasts for a decline of 0.1 percent following the downwardly revised 0.6 percent gain in the previous three months (originally 1.6 percent).

Nominal GDP was down 0.4 percent on quarter, missing expectations for a gain of 0.1 percent following the 0.1 percent gain three months earlier.

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