TOKYO: The economy expanded at a 1.9 percent annual pace in January to March, helped by sustained consumer demand, according to revised data issued yesterday. The government earlier estimated the world’s third-largest economy grew at annualized rate of 1.7 percent.
It said the improvement was mainly due to a better-than-expected level of corporate investment. The quarterly rate of growth was raised to 0.5 percent from 0.4 percent. The latest data showed private consumption, the biggest contributor to growth, rose 0.6 percent in the three-month period, compared with an earlier estimate of 0.5 percent. Economists expect the economy to slow in the current quarter.
