The government said Wednesday that the nation’s economy grew a real 0.6 percent in the April-June quarter, marking an upward revision from an earlier estimate of 0.5 percent growth.
This growth, measured in gross domestic product terms, translates into an annualized expansion of 2.6 percent, revised upward from an earlier estimate of 1.9 percent growth, the Cabinet Office said.
It is the first time in five quarters that the nation’s GDP has expanded on a quarterly basis.
GDP is the total value of goods and services produced domestically. Real GDP data are adjusted for inflation and seasonal variations.
Personal spending, a key to achieving sustainable growth, rose 0.3 percent in the April-June quarter from the previous quarter, unchanged from the preliminary data.
Corporate capital investment fell 0.4 percent, revised upward from an earlier estimate of a 0.5 percent contraction.
Housing investment fell 0.8 percent, compared with the 1 percent shrinkage reported previously, while public investment contracted 1.9 percent, revised downward from an earlier estimate of 0.7 percent shrinkage.
Export growth was revised downward to 5.7 percent from a preliminary estimate of 5.8 percent, while imports rose 2.6 percent, compared with an earlier estimate of a 3.8 percent rise.
If Japan achieves a 0.1 percent economic contraction in each quarter of fiscal 2002, the government’s target of flat growth for the current fiscal year will be reached, according to the office.
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