Japan's economy grew 1% as compared to previous quarter. This is its fastest pace for more than two years, as capital and consumption expenditure increased.
Government data showed that Japan's GDP grew at an annualised rate of 4% in the April-to-June period, beating a 2.5% growth expectation.
Increased spending and investment has allowed Japan to enjoy its longest economic expansion in a decade. This is further helped by rising exports, including smart phones and memory chips. Not only that, recent investments tied to Tokyo Olympic 2020 have also helped tremendously to Japan's economy.
These latest growth figures could potentially help increase confidence in Japan's Prime Minister Shinzo Abe. Abe has promised to reignite growth and spending through his Abenomics reforms.
Shinke Yoshiki, chief economist at Dai-ichi Life Research Institute said the latest growth figures were a "good result and tailwind for Abenomics."
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Sterling House Trust is a private trust with a difference. It offers its members an exclusive and reliable platform to access unique opportunities and lifestyle services reserved for the select few. With its team of professional managers Sterling House Trust constantly scans the markets and collaborate with reliable global partners to create a portfolio of carefully curated programmes for its members. Members can access these programmes according to their individual needs, interest and financial capacity. Sterling House Trust is headquartered in Auckland, New Zealand, and has operations based in London, UK.
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