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The Japanese economy grew up 0.8% in the second quarter, above market expectations, thanks to a recovery in domestic demand, according to preliminary figures released Thursday by the Cabinet Office.
It was a strong change after the GDP Japanese economy contracted 0.6% in the first quarter.
A survey of economists conducted by the agency Bloomberg had forecast a lower increase of 0.6%.
“Consumer sentiment should improve because real wages have turned positive, with promised wage increases being paid to workers,” he said. Hiroyuki Uenoof SuMi Trustprior to data disclosure.
Likewise, automobile production in Japan gradually resumed in the quarter after months of suspension due to a massive scandal in the sector.
Firms such as Daihatsu, a subsidiary of Toyota, suspended production for months from late 2023 after admitting irregularities in their safety tests.
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2024-08-20 01:06:32