Japan Q1 GDP revised to annualised 3.5pc contraction

TOKYO : Japan revised upward its first-quarter GDP reading on Thursday to an annualised 3.5 percent contraction from a 3

Published June 9, 2011 Updated June 9, 2011 05:34am

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By Syed Murtaza Gheblehzadeh

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On a quarterly basis the reading was unchanged. Gross domestic product fell 0.9 percent in the first quarter compared with the previous three months, and marked the second consecutive quarter of contraction, which economists define as a technical recession.

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