1st LD Writethru: Japan's Q1 GDP contracts annualized real 0.7 pct on weak consumption, exports

TOKYO, May 16 (Xinhua) -- Japan's economy contracted an annualized real 0.7 percent in the first quarter of 2025, amid stagnant private consumption and falling exports, government data showed Friday.

The latest real gross domestic product (GDP) growth rate marked the first quarterly contraction in four quarters, according to the Cabinet Office.

On a quarter-on-quarter basis, GDP in the January-March period, adjusted for inflation, declined 0.2 percent, the office said in a preliminary report.

On quarter, exports fell 0.6 percent, while imports, which negatively affect GDP, climbed 2.9 percent.

Private consumption, which accounts for more than half of Japan's economic output, rose 0.04 percent, due to the impact of higher prices, the office said.

Nominal GDP increased 0.8 percent from the October-December period, or 3.1 percent at an annualized rate. Enditem