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Japan Final Q1 GDP Unrevised At -0.6% On Quarter, -2.2% On Year

Japan's final reading for gross domestic product in the first quarter of 2020 was unrevised, the Cabinet Office said on Monday, showing a 2.2 percent annualized decline and a seasonally adjusted 0.6 percent quarterly contraction.

That was unchanged from June's advance reading and was in line with expectations.

That officially puts Japan in recession since its GDP was down 1.9 percent on quarter and 7.2 percent on year in the fourth quarter or 2019.

Capital expenditure was up 1.7 percent on quarter after sinking 4.8 percent in the previous three months - while external demand eased 0.2 percent on quarter after rising 0.5 percent in Q4.

Private consumption sank 0.8 percent on quarter after slipping 2.9 percent in the three months prior.

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