Real gross domestic product, the total value of goods and services produced in the country adjusted for inflation, rose 0.5 percent from the previous three-month period on a seasonally adjusted quarterly basis, according to the
The revised figure was slightly better than the average projection of 1.8 percent annualized growth by private-sector economists polled by
However, the GDP increase fell far short of offsetting a revised 4.2 percent shrinkage on an annualized basis in the January-March period amid a resurgence of coronavirus infections.
An initially reported 1.7 percent increase in capital spending was improved to a 2.3 percent rise, given brisk business investments in the reporting quarter shown in
Private consumption, which accounts for more than half of the country's GDP, was up 0.9 percent, slightly upgraded from a 0.8 percent growth. But spending on services remained sluggish as the government asked people to stay home and eateries to close early and not serve alcohol under a third state of emergency over the virus.
Facing a resurgence of virus infections,
Exports and imports expanded 2.8 percent and 5.0 percent, respectively, both downgraded by 0.1 percentage point from the preliminary figures.
Government spending rose 1.3 percent, sharply upgraded from a 0.5 percent increase, due to higher-than-expected medical care costs. A 1.5 percent decrease in public investment in the initial report was revised down to a 1.7 percent drop.
"It's good news that capital spending has begun to show bright signs, but the upward revision of GDP growth this time stops short of changing our recognition that the economic recovery is still slow," said
Looking forward, many analysts including Kozawa predict
The emergency now covers 21 out of
"Given that about half of
Nominal GDP, not adjusted for inflation, contracted 0.1 percent, or an annualized 0.5 percent, in the reporting quarter, revised down from a 0.2 percent annualized growth initially reported.
==Kyodo
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