The Japanese economy contracted at an annual rate of 0.7% in the first quarter, according to government data released Friday, as U.S. President Donald Trump’s trade war hurt exports and dented consumer confidence.
Japan’s real gross domestic product, or the measure of a nation’s goods and services, shrank at a greater-than-expected 0.2% in January-March compared to the previous quarter in the first contraction in a year, the Cabinet Office’s seasonally adjusted preliminary data showed.
