Japan's economy contracts annualized real 2.0% in January-March

Japan's economy shrank an annualized real 2.0 percent in the January-March period, marking the first contraction in two quarters, as domestic demand took a beating from higher inflation and a halt in vehicle shipments caused by a safety testing scandal at Daihatsu Motor Co., government data showed Thursday.Real gross domestic product in the first quarter of 2024, adjusted for inflation, declined 0.5 percent from the previous quarter. GDP is the total value of goods and services produced in a country.The contraction was widely expected as economists polled by the Japan Center for Economic Re…READ FULL ARTICLE