• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Japan upgrades Q2 GDP on stronger business spending

September 8, 2021 by David Barret Leave a Comment

September 8, 2021

By Tetsushi Kajimoto and Kantaro Komiya

TOKYO (Reuters) – 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 economy’s outlook.

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

It followed Prime Minister Yoshihide Suga’s announcement last Friday that he was stepping down, paving the way for the Sept. 29 ruling party leadership race, in which contenders will outline their plans to revive the world’s No. 3 economy.

The upward revision was caused by better-than-initially-estimated business spending figures, in a sign that capital expenditure and factory output more than offset weak service-sector activity on the back of global economic recovery.

However, global chip shortages may put a drag on Japanese car production and shipments while signs of China’s economic slowdown emerge as sources of concern.

The April-June GDP growth figures translated into quarter-on-quarter expansion of 0.5% in price-adjusted real terms, better than an initial reading of a 0.3% growth and the median estimate for a 0.4% gain.

The capital expenditure component of GDP grew 2.3% in the second quarter from January-March, bigger than the median forecast for 2.0% growth and the preliminary 1.7% gain.

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.

Domestic demand contributed 0.8 percentage points to revised growth figures, while net exports – or exports minus imports – shaved 0.3 percentage point off the second quarter growth.

(Reporting by Tetshshi Kajimoto and Kantaro Komiya; Editing by Sam Holmes)

Source Link Japan upgrades Q2 GDP on stronger business spending

David Barret
David Barret

Related posts:

  1. Merkel’s conservatives slump to record low before German vote
  2. Sweden to remove most remaining pandemic restrictions this month
  3. Intel says it will reserve Ireland chip factory capacity for automakers
  4. Guinea junta consolidates takeover by naming military governors

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • If They Take Fluoride Out Of The Water, What Could Happen To Americans’ Teeth?
  • Paraglider Accidentally Flies Into The “Death Zone” 8,500 Meters Up – And Survives
  • World’s Oldest Fingerprint, Bioacoustics Could Give Us “A Peek Into The Language Of Wolves”, And Much More This Week
  • Please Stop Jamming Coins Into The Rocky Cracks Of Legendary Giant’s Causeway
  • We’re A Step Closer To Knowing Who Made The Earliest Known Stone Tools
  • These Little Birds Are All But Extinct – But There Is Still Time To Save Them
  • The Three Types Of Female Orgasm
  • Elon Musk Has Announced His Bombastic Plan To Get Humans To Mars
  • China Unveils World’s Largest Offshore Wind Turbine With Hub Height Of 185 Meters
  • Oldest Fingerprint, AI Decoding Wolf Language, And Injecting Life On Other Worlds?
  • “There Are Glimmers Of Hope”: Search For One Of The World’s Most Endangered Pigeons Just Scored A Big Win
  • Earth Has A 1-In-100,000 Chance Of Being Ejected From The Solar System Due To A Passing Star
  • “Necrobotics” Turns Dead Spider Corpses Into Biohybrid Robots
  • Why Even Traveling Close To The Speed Of Light Is So Hard
  • Peer Into The Universe’s Distant Past Thanks To JWST’s Longest-Exposure Photo Yet
  • First Evidence For Chubby Cheeks In Dinosaurs Challenges Our Understanding Of How They Chewed
  • The 2021 “Heat Dome” Killed Her Mother. Now, She’s Suing The Oil Companies Responsible
  • Two Of The Most Destructive Termites Got It On, Sparking Hybrid Threat In Florida
  • The Mad Gasser of Mattoon: A Story Of Anxiety And Hysteria In America’s Heartland
  • Tourists Swimming With Orcas In Mexico As Tour Guides Exploit Legal Loopholes
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version