Japan upgrades Q2 GDP on stronger business spending

Revised gross domestic product data by the Cabinet Office released on Wednesday showed the economy grew an annualised 1.9% in April-June, beating economists' median forecast for a 1.6% gain and the initial estimate of a 1.3% expansion.

Still, Japan's economic recovery remains fragile due to slow COVID-19 vaccinations and as pandemic restrictions hamper private-sector activity. "The 1.9% April-June growth was not enough to push back the nearly 4% dip in January-March - less than a half of it," said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute."On average, 'stalling' could be the main description of Japan's economy during the first half of 2021."

Private consumption, which accounts for more than half of Japan's GDP, grew 0.9% in April-June from the previous three months, up slightly from a preliminary estimate of a 0.8% gain.

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Japan upgrades Q2 GDP on stronger business spending | Malay MailTOKYO, Sept 8 — Japan’s economy grew faster than the initially estimated in the April-June quarter, helped by solid capital expenditure, although a resurgence in Covid-19 is undermining service-sector consumption and clouding the outlook. Revised gross domestic product (GDP) data by the Cabinet...
Source: malaymail - 🏆 1. / 86 Read more »

Japan upgrades Q2 GDP on stronger business spending | Malay MailTOKYO, Sept 8 — Japan’s economy grew faster than the initially estimated in the April-June quarter, helped by solid capital expenditure, although a resurgence in Covid-19 is undermining service-sector consumption and clouding the outlook. Revised gross domestic product (GDP) data by the Cabinet...
Source: malaymail - 🏆 1. / 86 Read more »