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العربية
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16 May

By Ahmed Mamdouh

Category: FX Graph

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Japan experiences first contraction since 2015

The Japanese economy suffered its first contraction since 2015, halting an eight-quarter streak of growth, on fall in investment and consumption.

A preliminary GDP reading released on Wednesday signaled a 0.6 percent annualized contraction in the first quarter, compared to median estimates of 0.2 percent fall.

The shrink in the economy has ended the longest streak of consecutive growth since the late 1980s, where some economists now predict that growth pace this year would be weaker than 2017.

In the last quarter of 2017, the quarter-on-quarter GDP was revised up to 0.4 percent from 0.1 percent, while the economy plunged 0.2 percent in the first quarter.

As of 08:27 GMT, the dollar traded lower versus the Japanese yen at 110.18, after hitting its highest level since early February the previous session.

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Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at D1stp.com, with 9 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.

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