According to the latest Japanese government data released on Monday, Japan's economy grew at the fastest pace in more than two years in the second quarter, in the wake of stronger consumer spending and capital expenditure.
Key Details via Reuters:
“Gross domestic product expanded an annualised 4.0 percent in April-June, government data showed, more than the median estimate for 2.5 percent annualised growth and the biggest increase since January-March 2015.
Compared to the previous quarter, the economy expanded 1.0 percent, versus the median estimate for 0.6 percent growth.
Annualised GDP for previous quarter was revised to a 1.5 percent increase, while quarterly real (inflation adjusted) GDP was revised up to 0.4 percent growth from a 0.3 percent increase.
Private consumption, which accounts for about two-thirds of GDP, rose 0.9 percent from the previous quarter, more than the median estimate of 0.5 percent growth.
Capital expenditure jumped by 2.4 percent in April-June from the previous quarter, doubling the median estimate for a 1.2 percent increase. That was the fastest growth in business investment since January-March 2014 as companies spent more on software and construction equipment.”
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