TOKYO, Japan (AFP) — Japan posted an economic growth of 0.6 percent in the three months to September from the previous quarter, according to new data published Friday that showed the world’s third-largest economy expanding twice as fast as previously estimated.
Robust capital spending boosted the new quarterly figure sharply higher than the preliminary 0.3 percent and beat market expectations that growth would be revised up only slightly.
The data confirmed the economy grew for the seventh straight quarter in the longest string of gains for more than two decades.
Capital spending — investment in equipment and plants by private firms — was revised from 0.2 percent to 1.1 percent.
The Cabinet Office said the economy grew at an annualized 2.5 percent, instead of an earlier estimated 1.4 percent.
© Agence France-Presse
