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Economy

Japan's GDP down 1.2% in April

TOKYO -- Japan's real gross domestic product shrank 1.2% on the month in April, marking the first decline in two months, the Japan Center for Economic Research said Monday.

     Consumer spending also slid 1.2%.  The government's household economic survey shows that consumption -- excluding such spending as purchases of homes and cars -- decreased 3.5% in real terms. Imports increased 5%, sharper than exports' 1.5% gain. Sluggish net foreign demand pushed down GDP by 0.5 percentage point.

(Nikkei)

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