Japan’s economy rose by 0.3% in April-June from the previous quarter, matching an annualized pace of 1.3%, as corporate capital spending turned positive.
Source: Trading Economics
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The first turnaround in two quarters was bigger than the annualized increase of 0.66% that economists had expected.
Most of the period between April and June aligned with the state of emergency in Tokyo, Osaka, and other areas, when measures such as restricting outings and shortening restaurant hours.
Japan had suffered negative growth in the Q2 of 2020 when a state of emergency was declared for the first time amid the Covid-19 outbreak. But growth turned positive in the July-December period.
In January-March of 2021, a decline in personal consumption pushed down the overall growth rate, turning negative for the first time in three quarters.