Japan Apr.-Jun. GDP revised upward

The Japanese government has announced that economic growth in the second quarter of the year exceeded initial estimates.

The Cabinet Office says the GDP in the April to June period expanded in real terms from the previous quarter at an annualized percentage rate of 1.9. It was the first expansion in two quarters and outpaced the estimate of 1.3 percent made last month.

Corporate capital investment also surpassed the preliminary figure, increasing by 2.3 percent.

Personal spending accounts for more than half of the GDP. It rose 0.9 percent, despite a coronavirus state of emergency for Tokyo and other prefectures during most of the quarter.
Government consumption also grew 1.3 percent, due in part to an increase in medical spending.

Exports grew from the previous quarter by a robust 2.8 percent, but that was slightly down from the preliminary figure.

There are signs that economic recovery is still not strong enough.