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Japan's Economy Grows 2.1% in Q1, Beating Estimates

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Japan's economy grew an annualized 2.1% in the first quarter, according to the first preliminary figures from the Cabinet Office.

The latest print beat market expectations for a 1.7% increase, according to a Reuters poll.

The world's fourth-largest economy grew 0.5% on a seasonally adjusted basis during the quarter, better than the revised 0.2% increase in the previous quarter.

Domestic demand saw an annualized rise of 1%, with private demand, accounting for over half of Japan's GDP, increasing by 0.8%.

Exports of goods and services rose 7.1%, while imports edged up 1.9%.

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