Japan upgrades GDP on raised business spendingReuters, TOKYOJapan’s economy grew faster than initially estimated in the April-to-June quarter, helped by solid capital expenditure, although a resurgence in COVID-19 is undermining service-sector consumption and clouding the outlook. A worker checks a spool of recycled paper at a Corelex Shinei Co toilet paper factory in Fuji, Japan, on Tuesday. Japan’s GDP expanded at an annualized pace of 1.9 percent in the three months to June. “Japan’s recovery is lagging behind other advanced economies. Private consumption, which accounts for more than half of Japan’s GDP, grew 0.9 percent from April to June compared with the previous three months, up slightly from a preliminary estimate of a 0.8 percent gain.

Source: Taipei Times September 08, 2021 15:56 UTC