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Japan’s Economy Posts Stronger-Than-Expected Growth in Q2Tokyo, 8 Sep (ONA) — Japan’s economy grew faster than initially estimated in the April-June quarter, mainly due to brisk private consumption. Japan’s Cabinet Office said inflation-adjusted gross domestic product rose 2.2% in annualized terms in the period, up from a preliminary reading of 1.0%, Japan Broadcasting Corporation (NHK) reported. On a quarter-on-quarter basis, real GDP grew a revised 0.5%. Private consumption, which accounts for more than half of the economy, grew 0.4%, or double the initial rate. The Cabinet Office said that Japan’s economy remains on a moderate recovery path, with real GDP having expanded for five straight quarters.— Ends/Khalid
