Japan's economy rebounds in Q1

By Agence France-Presse

May 18, 2023 12:09 am

TOKYO: Japan's economy grew faster than expected in the first quarter, official data showed Wednesday, helped by a recovery in inbound tourism after pandemic border restrictions were lifted.

The 0.4-percent rise in gross domestic product (GDP) beat market expectations of 0.2 percent, after hopes of a rebound fell flat in the final quarter of last year.

BOUNCING BACK People walk at a pedestrian crossing in Ginza shopping district on March 31, 2023 in Tokyo. Japan’s economy grew at an annual pace of 1.6 percent in the quarter through March as private demand rebounded after Covid-19-related restrictions were eased, according to data released on Wednesday, May 17, 2023. AP PHOTO

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