Japan’s economy grew an annualized 2.7% in the first quarter of the year, expanding further than earlier estimates of 1.6% made last month, government data showed, as the economy continues to see robust spending.
Economists surveyed by Reuters had expected to see growth of 1.9%. The Japanese yen strengthened by 0.14% to 139.98 against the U.S. dollar shortly after the release. Quarter-on-quarter, the economy expanded by 0.7%, beating estimates by Reuters of 0.5%.
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