TOKYO -- The global economy is slowing, with real growth in the U.S. and Japan in January-March turning negative, as prolonged high prices put downward pressure on consumer spending and U.S. tariff policies lead to pessimism about the future.
Japan's inflation-adjusted real gross domestic product fell an annualized 0.7% in the first quarter from the previous quarter, the first negative growth in four quarters, according to figures released Friday. Consumer spending, which accounts for more than half of GDP, was largely flat.
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