Japan Q1 GDP Up 4.9%

The Cabinet Office announced that real gross domestic product increased 4.9% from the previous quarter on an annualized pace in the January-March period and 4.2% annualized in the fourth quarter of 2009. Q1 growth was led by a recovery in exports as well as gains in consumer spending and business investments. The GDP deflator was down 3.0% from a year earlier after falling 2.7% in the fourth quarter of 2009.