The Japanese economy contracted 0.2% quarter-on-quarter in the March quarter of 2018, unchanged from a preliminary figure and after an upwardly revised 0.3 percent growth in the previous period. It is the first contraction since the December quarter 2015, as an unexpected decline in household consumption offset a rise in business spending.
On an annualised basis, the economy shrank 0.6%, the same as the preliminary estimate. It is the first contraction in more than two years, ending the longest straight period of uninterrupted growth in 28 years.
