Japan's GDP Grows 3.1% in April-June, First Positive Growth in Two Quarters

TOKYO, Aug 15 (News On Japan) - Japan's GDP for the April-June period this year showed a real growth rate of 3.1% on an annualized basis, the Cabinet Office announced on Thursday.

The real GDP (Gross Domestic Product) growth rate for the April-June quarter was 0.8% compared to the previous three months, translating to an annualized rate of 3.1%.

This marks the first positive growth in two quarters.

Personal consumption, which accounts for more than half of GDP, grew by 1.0%—the first increase in five quarters—driven by the resumption of production and shipments following the resolution of the certification fraud issue at automobile manufacturers, as well as strong sales of air conditioners during the heatwave.

Nominal GDP reached 607 trillion yen on an annualized basis, surpassing 600 trillion yen for the first time.

Source: ANN

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