TOKYO, August 14: Japan’s economy gained momentum in the April-June quarter, growing at a hearty 4.0 percent annual pace fueled by stronger consumer spending and corporate capital investment.
Economists had been forecasting a relatively strong performance for the world’s third-largest economy, though the actual numbers were better than expected. However, the data released Monday are preliminary and likely to be revised.
The last quarter’s growth was the sixth straight quarter of expansion and the fastest since the first quarter of 2015. The economy expanded at a revised 1.5 percent annual pace in January-March.