World Business NewsA round up of the latest news for those doing business internationally
Japan growth data revised upwards
Zone(s): Japan ¦ Sector(s): Finance, Economy
The Cabinet Office said the economy grew 1.6% during the period, up from its initial estimate of 1.5%. That translates into an annualised growth rate of 6.7% – up from the initial figure of 5.9%. Many analysts had expected a downward revision.
Japanese consumers and businesses increased their spending during the period ahead of April’s sales tax rise. According to the revised figures, business investment rose 7.6% during the period, from the previous quarter, revised up from a preliminary 4.9% increase.