MADRID, 8 Jun. (EUROPA PRESS) -

The gross domestic product (GDP) of Japan registered an expansion of 0.7% in the first quarter of the year, which represents an improvement of three tenths compared to the first estimate of the data and a substantial acceleration compared to the advance of 0 .1% in the last quarter of 2022, according to data published by the Government Cabinet Office.

Compared to the same quarter of 2022, the Japanese economy grew by 1.9%, while in an annualized rate, activity in Japan increased by 2.7% between January and March, compared to the previous estimate of 1.3%. and 1.6%, respectively.

The rebound observed in GDP during the first quarter of 2023 is due to the evolution of private household consumption, responsible for 60% of GDP, which grew by 0.5%, one tenth less than previously estimated, but more than 0.3% in the fourth quarter of 2022.

On the other hand, government spending increased by 0.1%, after the stagnation observed in the previous three months, while investment by Japanese companies rebounded by 1.4%, half a point more than anticipated and well above the 0.2% increase from the fourth quarter of last year.