Japan's latest GDP figures show its economy grew in the April-to-June period for the third consecutive quarter.
The Cabinet Office released preliminary Gross Domestic Product figures on Monday.
The GDP expanded from the previous three months by 0.5 percent in inflation-adjusted terms.
In annualized terms, that means an expansion of 2.2 percent for the three months through June from the previous quarter.
The growth is mainly due to the recovery of consumer spending. That accounts for more than half of Japan's GDP.
Personal spending increased by 1.1 percent during the second quarter from the first quarter, supported by sharp growth in service industries, such as restaurant and travel. The rise came after Japan lifted quasi-emergency measures against COVID-19 nationwide in March.
Capital spending also grew by 1.4 percent as companies spent actively on digitalization.
The Cabinet Office released preliminary Gross Domestic Product figures on Monday.
The GDP expanded from the previous three months by 0.5 percent in inflation-adjusted terms.
In annualized terms, that means an expansion of 2.2 percent for the three months through June from the previous quarter.
The growth is mainly due to the recovery of consumer spending. That accounts for more than half of Japan's GDP.
Personal spending increased by 1.1 percent during the second quarter from the first quarter, supported by sharp growth in service industries, such as restaurant and travel. The rise came after Japan lifted quasi-emergency measures against COVID-19 nationwide in March.
Capital spending also grew by 1.4 percent as companies spent actively on digitalization.
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Summary
Japan's economy expanded for the third consecutive quarter, as per preliminary GDP figures released by the Cabinet Office. The growth of 0.5% in inflation-adjusted terms translates to an annualized expansion of 2.2% from the previous quarter. This growth is attributed primarily to the recovery of
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ID: 62fa4c28-0ac4-49c2-a328-4e7ec0a80b98
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20220815_10/
Date: Aug. 15, 2022
Created: 2022/08/15 22:37
Updated: 2025/12/09 14:19
Last Read: 2022/08/15 22:37