Japan’s Q2 GDP revised up to annualised 1.9% growth

Japan’s economy grew an annualised clip of 1.9% in the second quarter, better than the initial estimate of a 1.3% gain, revised government data showed, confirming a gradual recovery from the COVID-induced slump.

The revised figure for gross domestic product (GDP) released by the Cabinet Office on Wednesday compared with economists’ median forecast for a 1.6% annualised growth.

On a quarter-on-quarter basis GDP expanded 0.5% in the April-June quarter, also better than the initial reading of 0.3% and compared with a median forecast for a 0.4% rise.