Economic news

Japan's economy slowed more than predicted in first quarter

Japan's GDP contracted in the first three months of 2018 for the first time in two years, breaking the two-year expansion.

The world's third largest economy shrank by 0.6 percent on an annualized basis, while analysts expected contraction of 0.2 percent. Сonsumer spending and capital expenditure slowed at the start of this year, which experts said weighed on the economy.

On a quarter-on-quarter basis, GDP dropped 0.2 percent compared with increase of 0.1 percent in October-December.

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