Japan's economy expands 1.6% in Jan.-March on consumption, tourism

Japan's economy grew an annualized real 1.6 percent in January-March, the first expansion in three quarters, aided by strong private consumption and an inbound tourism recovery in a fresh sign the impact of the COVID-19 pandemic is waning, the government said Wednesday.Despite the stronger-than-expected reading for gross domestic product, the total value of goods and services produced in a country, the data showed exports plunged and the economy fell into a technical recession of two consecutive quarters of negative growth late last year.Real GDP, adjusted for inflation, increased 0.4 perce…READ FULL ARTICLE