Japanese Growth Rates Revised Up

11 September 2003

Japan’s economy – the globe’s second most technologically-powerful after the US (and third largest overall behind the US and China) – grew faster than previously thought in the second quarter, new government figures show.

According to the Cabinet Office, GDP rose 1% in the three months to June, nearly double preliminary estimates of 0.6%.

Much of the improvement reflects better-than-expected business investment. This jumped 4.7% from Q1 to Q2, much faster than the earlier figure of 1.3%. In addition, private investment jumped 0.8%, up from a preliminary rate of 0.2%.

The GDP rise translates into an annualised increase of 3.9%, higher than previous estimates of 2.3%. This represents the sixth consecutive quarter of growth.

Data sourced from: The Wall Street Journal Online; additional content by WARC staff