10 Aug '18, 9am

Japan economy rebounds following its first contraction in two years

Japan economy rebounds following its first contraction in two years

Japan bounced back to growth following its first contraction in two years, official figures showed Friday, but fears of US trade wars clouded the outlook for the world's third-largest economy. The economy grew 0.5 percent quarter-on-quarter in the April-June period, compared with a 0.2-percent decline in January-March, according to data from the Cabinet Office. The growth figure -- annualised at 1.9 percent -- was better than analysts had expected, beating a market consensus of 0.3 percent growth compiled by Bloomberg News. The data represented a quick turnaround after a series of eight consecutive quarters of growth ended in January-March, interrupting a winning streak not seen since the heady days of Japan's "miracle" boom of the 1980s. "The Japanese economy staged an ideal rebound, partly backed by robust corporate activities," Hideo Kumano, chief economist at Dai-ichi ...

Full article: https://sg.news.yahoo.com/japan-economy-returns-black-fir...

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