TOKYO: Japan's economy rebounded more than expected in the second quarter after slumping in the first three months of this year, data showed - a sign consumption and capital expenditure were recovering from the coronavirus pandemic's initial hit.
Still, the rebound was much weaker than that of other advanced economies including the United States, which marked a 6.5 per cent annualised expansion in the second quarter, highlighting the fallout from Tokyo's struggle in containing the pandemic. "I have very mixed feelings about this GDP result. It shows that households' consumption appetite is very strong despite the state of emergency curbs," Economy Minister Yasutoshi Nishimura told reporters after the data's release.
Capital expenditure also increased 1.7 per cent after falling 1.3 per cent in the previous quarter. As a result, domestic demand contributed 0.6 per cent point to GDP growth.
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