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Japan's GDP expands in January-March
Last Updated(Beijing Time):2012-05-17 08:35

Japan's gross domestic production ( GDP) grew an annualized real 4.1 percent in the January-March period this year, government said Thursday.

The nation's GDP reading in the recording quarter corresponds to an expansion of 1.0 percent from the previous quarter, the Cabinet Office said in a report.

Thursday's result beat an average forecast of 3.3 percent expansion by private-sector analysts in a Kyodo News survey.

By item, consumer spending, which accounts for about 60 percent of the nation's GDP, climbed 1.1 percent in the three months. Corporate capital spending dropped 3.9 percent, while the public investment increased 5.4 percent.

Government spending and the demand driven by reconstruction had been considered key factors for the economic growth. Japan has been recovering from devastating earthquake and tsunami disasters that hit its northeastern prefectures in the year.

The world's third-largest economy was also battered by the massive flooding in Thailand that disrupted the supply chains of Japanese manufacturers, and an appreciated yen which eroded the profits of export-linked sectors.

For the past fiscal year which ended in March, the nation's GDP was almost flat from the year before.

Source:Xinhua 
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