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Japanese economy posts longest expansion in more than a decade
Japanese economy posts longest expansion in more than a decade
Japan’s economy expanded at the fastest pace for more than two years in
the three months to June, with domestic spending accelerating as the
country prepares for the 2020 Toyko Olympics and low levels of
unemployment encouraged businesses to invest.
The world’s third
largest economy recorded an expansion in second-quarter gross domestic
product at an annualised rate of 4%, according to figures from the
cabinet office on Monday, making the country the fastest-growing of the
G7 wealthy nations.
The data comes as a shot in the arm amid rising regional tensions sparked by the US president, Donald Trump, and North Korea’s Kim Jong-un, a war of words that rattled global stock markets last week and could threaten Japan, its economy and the rest of the world.
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