Japan’s economy recovers in Q2

16.08.2021 - Petr Mazaylo
Japan’s economy recovers in Q2

Japans’ economy beat recovery expectations in the second quarter after a decline at the start of the year. The development indicated the country’s consumption and capital expenditure’s recuperation from the COVID-19 pandemic blow.

Preliminary gross domestic product (GDP) data on Monday showed an annualized 1.3% growth in April-June after a 3.7% drop in the previous quarter. The figure was higher than a median market forecast of 0.7% increase.

Consumption climbed 0.8% in April-June from the previous quarter. It surpassed market forecast of a 0.1% fall and a 1.0% drop seen in the first quarter.

Capital expenditure also tallied a 1.7% rise after slipping 1.3% in the previous quarter. It resulted in domestic demand contributing 0.6% point to GDP growth.

Despite exceeding predictions, Japan’s economic recovery lags behind other developed countries like the United States, which recorded an annualized 6.5% expansion during the same period.

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