Japan’s economy expanded faster than expected in the first quarter, supported by resilient exports and steady domestic demand, although economists warned that the escalating energy crisis linked to the Iran conflict could sharply weaken growth in the months ahead.
According to government data released on Tuesday, Japan’s real gross domestic product (GDP) grew at an annualised pace of 2.1% during the January-March quarter, exceeding market expectations of 1.7% growth and improving from a revised 0.8% expansion in the previous quarter. According to Reuters, the stronger-than-expected performance marked the second consecutive quarter of economic expansion for the world’s fourth-largest economy.
