Japan's economic growth revised upward to annualized 5.0% in 1Q

12:56, June 10, 2010      

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Japan's real gross domestic product (GDP) increased an annualized 5.0 percent in the January-March period, marking the fourth straight quarter of gain, the Cabinet Office said Thursday in a report.

Japan's first quarter GDP figure was upwardly revised from an initial estimate of 4.9 percent growth, the office said.

The revised data by the Cabinet Office also revealed that GDP for the three-month period grew 1.2 percent quarter-on-quarter, which is unchanged from a preliminary reading.

The acceleration of Japan's economic recovery during the first quarter of 2010 is the fastest pace of economic growth since the April-June quarter of 2009, the figures revealed.

Analysts said the pace of the economic growth is due to robust demand and increased sales in emerging countries, which in turn has encouraged increased investment by Japanese businesses.

Government stimulus measures have encouraged consumers in Japan to buy and as global economies recover, demand for Japan's cars and electronic goods has led to an increase in corporate capital expenditure to meet with increased demand.

GDP is the total value of goods and services produced domestically. Real GDP data are adjusted for price and seasonal variations.



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