Recording its sixth straight quarter of growth, the economy blew past market expectations with a 0.6% rise in the April-June period, according to figures from the cabinet office on Monday. Consumption accounts for more than a half of Japan’s GDP but has been sluggish for years. The world’s number three economy has been picking up steam, with investments linked to the Tokyo 2020 Olympics also giving growth a boost. However, it was off by 0.8% on Monday amid continued tension between the US and North Korea and a stronger currency offset the benefits of the good GDP figures. The scheme – a mix of huge monetary easing, government spending and reforms to the economy – stoked a stock market rally and fattened corporate profits.

Source: The Guardian August 14, 2017 02:23 UTC