Japan revises economic growth upward
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Japan's economic growth rate was revised upward to an annual pace of 1.0 percent for the April-June quarter, as the world's second-largest economy expanded for a sixth straight quarter on the back of healthy private consumption, the Cabinet Office said Monday.
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Japan revised its first-quarter economic growth to an annual pace of 3.3 percent, from 2.4 percent, because business investment was stronger than initially estimated. The report confirmed that Japanâs economy remained on a healthy recovery path in the first three months of the year. The bulk of the revision came from capital investment, which rose 0.3 percent from the previous quarter, better than the preliminary figure of a decrease of 0.9 percent. Consumer spending, which makes up more than half of Japanâs gross domestic product, was up 0.8 percent from the previous quarter, the data showed. That was slightly below the preliminary reading of a 0.9 percent rise. Compared with the previous quarter, the G.D.P. rose 0.8 percent in the January-March quarter, the cabinet office said.
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Japan&#39;s economic growth in the April-June period was revised down to 0.3 percent in real terms, dropping 0.1 percentage points from the previously released figure,the government said Friday.
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Japan&#39;s stock benchmarks gained after a government report showed industrial production rose for the first month in three, prompting optimism economic growth will be sustained.
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Japanese stocks rose Thursday amid optimism about the nation's economic propects, with bank and steel shares leading the way. The dollar was lower against the yen.
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Retailers such as Ito-Yokado got a lift after government data showed activity in Japan&#39;s service sector rose in June as a wide range of businesses including retailers and restaurants enjoyed a recovery in customers.
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Tokyo's Nikkei average rose near a six-month high by midsession on Tuesday, with retailer Ito-Yokado Co. gaining on solid earnings and optimism about the economy lifting stocks oriented toward domestic business.
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Japanese stocks may rise after a US government report showed accelerating job growth, suggesting that the world&#39;s largest economy is emerging from a midyear lull.
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Japan's business confidence is improving and firms are set to boost investment in the coming months.
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Japan's economy has marked its longest economic expansion since World War II, according to a government report Wednesday.
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Japanese industrial output rose for the first time in three months in November, providing some relief after a run of bleak data over the last several months.
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New Zealand has revised its growth forecasts upwards as reports out showed the economy was withstanding the current downturn better than expected.
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PARIS The Organization for Economic Cooperation and Development raised its 2004 growth outlook Tuesday for the world economy, forecasting further expansion in Europe and a robust upturn in Japan that would outpace the United States for the first time in
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Tokyo stocks rose by midday on Monday as a broad range of issues got a lift from a key survey that boosted optimism on Japan&#39;s economic outlook and raised expectations that growth figures will be revised up.
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Japan's second quarter growth rate is likely to be revised up this week on the back of data showing increased corporate investment in factories and offices along with higher profits.
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Japanese stocks rose on Tuesday on expectations that a Government report later today would provide further evidence of strength in the world&#39;s second-largest economy.
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Japan&#39;s economy grew 0.3 percent in April-June from the previous quarter, less than the 0.4 percent growth rate initially estimated, the government said Friday.