Japan’s economy expanded in the three months through June, the government confirmed in a revised report, as data for private consumption were revised higher.
Gross domestic product grew at an annualized pace of 2.2% last quarter, the Cabinet Office said Monday. That exceeded the initial estimate of a 1.0% expansion. The median forecast among analysts had called for no change from the preliminary reading.
The economy has now grown for five consecutive quarters, as policymakers sought to manage challenges ranging from persistent inflation to the fallout from higher U.S. tariffs. The string of gains wasn’t enough to keep Prime Minister Shigeru Ishiba in his job. The premier announced Sunday that he’ll step down, setting in motion a leadership race that may raise questions about the policy outlook and unsettle investors.
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