China News Service, May 18. According to Kyodo News, the initial value of the gross domestic product (GDP, seasonally adjusted value) for the first quarter of 2022 (January to March) released by the Cabinet Office of Japan on the 18th shows that the price changes are excluded. The latter real GDP fell by 0.2% from the previous quarter, and the annualized rate decreased by 1.0%.
Data map: Pedestrians crossing the street in Tokyo, Japan.
Photo by China News Agency reporter Lv Shaowei
According to the report, this is the first negative growth in a quarter after the third quarter of 2021.
Affected by the application of key measures to prevent the spread of the new crown epidemic until late March, personal consumption continued to be sluggish.
Increased imports such as Covid-19 vaccines also weighed on GDP.
In addition, affected by the conflict between Russia and Ukraine, the price of energy and food has risen, and the economic situation in Japan will continue to be severe.