Japan Jan.-March GDP shrinks for 1st time in 1 yr amid weak spending

Japan's economy shrank an annualized real 0.7 percent in the January-March period, the first contraction in a year, government data showed Friday, underscoring that domestic demand was sluggish even before higher U.S. tariffs took full effect.In the first quarter of 2025, real gross domestic product, adjusted for inflation, declined 0.2 percent from the October-December period, as weak consumer spending amid inflation and increased import costs weighed on growth, the Cabinet Office said.U.S. President Donald Trump began imposing heavy tariffs on Japanese products in April, raising concerns …READ FULL ARTICLE