The Japanese economy contracted 2.2% annualized in the first quarter, less strongly than initially estimated, show revised data released Monday by the government. Quarter over quarter, Japan's gross domestic product (GDP) fell 0.6% according to final statistics, against a contraction of 0.9% in preliminary reading.
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Preliminary data released last month showed a 3.4% contraction in the Japanese economy over the January-March period, de facto marking Japan's first recession since the second half of 2015.