Japan's economy continued to grow despite China's economic slowdown, its important trading partner. As the Tokyo government announced today on preliminary data, gross domestic product (GDP) rose at an annual rate of 2.1% between January and March. Economists expected a slight deterioration.
In the previous quarter, the Japanese economy rose by 1.6 percent. Compared to the previous quarter, the world's third-largest economy after the US and China rose by 0.5 percent, although spending on Japanese equity firms fell by 0.3 percent from the previous quarter.
Exports also fell by 2.4 percent; As well as private consumption, which accounts for about 60% of Japan's economic output in Japan.