The result was worse than the 1.25% year-on-year contraction forecast by economists in a Reuters poll.
Q1 2023 Reuters poll Q4 2022 Q3 2022 GDP (y/y) -3.02 -1.25 -0.41 +4.01 GDP (SAAR,q/q) -6.37 -1.46 +7.51 The figures will be revised in about two to three weeks. A full table can be found at (Reporting by Jeanny Kao and Faith Hung; Editing by Andrew Heavens)