TOKYO -- Japan's economy shrank an annualized 0.7% in the January to March quarter from the previous three months, according to preliminary government figures released Friday. The decline, which marks the first period of negative growth since the first quarter of 2024, reflected weak consumption and a rise in imports.
The latest real gross domestic product growth rate compares with a median forecast for a 0.19% contraction among economists surveyed by QUICK, a Nikkei group company.
