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JAPAN-ECONOMY-GDP
Japan’s second quarter growth revised up
TOKYO, Sept 10, 2018 (BSS/AFP) – Japan’s economy grew faster than
initially thought in the April-June quarter thanks to strong corporate
investment, official figures showed Monday.
The world’s third-biggest economy grew 0.7 percent quarter-on-quarter, up
from the preliminary figure of 0.5 percent, the cabinet office said.
The latest figure — an annualised 3.0 percent — was in line with market
expectations, confirming that Japan has bounced back to growth following its
first contraction in two years.
The data represented a quick turnaround after a series of eight
consecutive quarters of growth ended in January-March, interrupting a winning
streak not seen since the heady days of Japan’s “miracle” boom of the 1980s.
But analysts have warned US-led trade wars could be a major risk factor
for an economy still struggling to win a long battle against deflation.
The upward revision was chiefly due to stronger-than-previously-estimated
corporate capital investment, Tokyo said.
BSS/AFP/HR/0850