Japan economy expands annualized 4.0 pct. in Q2 on consumption, capex

Source:Xinhua Published: 2017/8/14 9:58:09

Japan's economy grew at an annualized rate of 4.0 percent in the April-June quarter, the Cabinet Office said on Monday.

According to the government, the data marks the sixth successive quarter of expansion and is owing in part to increased capital expenditure and private consumption.

Private consumption, a key component of the country's GDP, was up 0.9 percent, the data showed.

The latest data also marks the fastest pace of expansion since the January-March period in 2015, the Cabinet Office's data revealed, and came in ahead of median analysts' predictions for a 2.5-percent annualized increase.

The expansion in inflation-adjusted gross domestic product equates to a 1.0-percent increase from the previous quarter.

The April-June economic expansion comes on the heels of a 1.5-percent annualized rate of expansion in the previous quarter, the Cabinet Office data showed and on a quarter-on-quarter basis, GDP rose 1 percent.

This figure came in ahead of median analysts' expectations of a 0.6-percent increase.

Posted in: ECONOMY

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