Japan’s economy expanded for a third straight quarter in April-June, as brisk exports helped offset the drag from a slowing post-COVID recovery in the services sector, although global recession prospects cloud the outlook. | Reuters
A cargo ship and containers are seen at an industrial port in Tokyo, Japan, Feb 15, 2022. REUTERS/Kim Kyung-Hoon/File photo
TOKYO – Japan’s economy expanded for a third straight quarter in April-June, as brisk exports helped offset the drag from a slowing post-COVID recovery in the services sector, although global recession prospects cloud the outlook. The 6 percent annualized growth in Japan’s gross domestic product figure translated into a quarterly gain of 1.5 percent, much bigger than median estimates of 0.8 percent in a Reuters poll.The solid GDP data provides relief to policymakers who are seeking to balance economic growth with sustainable inflation and steady wage increases.
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