Japan's economy grows annualized 1.9 pc in Q2

TOKYO, Aug. 10 (Xinhua) -- Japan's economy expanded at an annualized rate of 1.9 percent in the April-June quarter, government data showed Friday.

The preliminary data released by the Cabinet Office revealed that Japan's economy had recovered from a 0.9-percent annualized contraction in the previous quarter and had dodged a slip into recession, owing to a pick-up in private consumption and capital expenditure.

The latest reading for Japan's second-quarter gross domestic product (GDP) data compared with a median estimate for a 1.4-percent annualized increase among median economists' forecasts.

In terms of real gross domestic product, meaning the total value of goods and services produced in the country adjusted for inflation, economic growth equates to a 0.5 percent expansion from the previous quarter, the Cabinet Office said.

This compares to median economists' estimates for a 0.3-percent increase in the recording quarter.

Private consumption, the Cabinet Office said, which accounts for more than half of Japan's GDP, was up 0.7 percent on quarter.

[ Editor: Xueying ]


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