Japan's economy expands at yearly rate of 6 percent
Date
8/15/2023 8:07:01 AM
(MENAFN) As exports and inbound tourists rebounded, Japan's Economy expanded at a yearly rate of 6 percent in the months of April through June, marking the third consecutive quarter of expansion.
The world's third largest economy's real gross domestic product, that measures the entire worth of a country's goods and services, increased 1.5 percent in the first 3 months of the ongoing fiscal year, the Cabinet Office reported on Tuesday.
The annualized rate depicts the growth that would have occurred if the quarter's trends had persisted for a full year. The rate was higher than the 3.1 percent growth that analysts had predicted.
Since October to December 2020, when Japan's GDP expanded 1.9 percent quarter over quarter and 7.9 percent every year, the most recent quarter has demonstrated the greatest rate of growth.
In accordance with the ministry, exports increased 3.2 percent in the 3 months leading up to June. Following a time during which they had stopped due to a lack of computer chips as well as other parts, auto exports have recently increased. Social constraints brought on by the corona pandemic hindered production.
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