Japan's economy grew at an annualized rate of 1.9% in the second quarter of 2021, better than the preliminary estimates of an increase of 1.3%, revised government data showed. The data emphasized the gradual recovery from the recession caused by the Coronavirus.
The revised GDP figure released by the Cabinet Office on Wednesday was higher than the average forecast by economists for annual growth of 1.6% in a Reuters poll.
Gross domestic product expanded 0.5% in the April-June quarter, also better than the preliminary reading of 0.3% and compared to the median forecast for a 0.4% rise.
The GDP data shows the value of goods, services and facilities that were produced during a certain period on a quarterly basis. GDP is a measure of market performance because it indicates the pace of growth or decline in the Japanese economy.