Japan's economy grew 3.1% in Q2 2022, exceeding expectations and driven by private consumption.

Japan's economy surpassed expectations with 3.1% growth in Q2 2022, higher than the predicted 2.1%. Private consumption, a significant factor in the GDP, increased 1.0%, marking the first growth in five quarters. Japan's economic resilience was demonstrated amidst global economic challenges, and the Bank of Japan predicts this growth will help achieve its 2% inflation target.

August 15, 2024
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