07.06.202323:55:00UTC+00Japan GDP Climbs 0.7% On Quarter In Q1

Japan's gross domestic product expanded a seasonally adjusted 0.7 percent on quarter in the first three months of 2023, the Cabinet Office said on Thursday.

That beat forecasts for an increase of 0.4 percent following the flat reading in the three months prior.

On an annualized basis, GDP climbed 2.7 percent on year - also topping expectations for a gain of 1.6 percent following the 0.1 percent rise in the previous three months.

Capital expenditure was up 1.4 percent on quarter, beating forecasts for a gain of 0.9 percent after sinking 0.5 percent in the previous quarter.