Japan upgrades Q2 GDP on stronger business spending ...Qatar

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Japan upgrades Q2 GDP on stronger business spending
Japan’s economy grew faster than the initially estimated in the April-June quarter, helped by solid capital expenditure, although a resurgence in Covid-19 is undermining service-sector consumption and clouding the outlook. Revised gross domestic product (GDP) data by the Cabinet Office released on Wednesday showed the economy grew an annualised 1.9% in April-June, beating economists’ median forecast for a 1.6% gain and the initial estimate of a 1.3% expansion. It followed Prime Minister Yoshihide Suga’s announcement last Friday that he was stepping down, paving the way for the September 29 ruling party leadership race, in which contenders will outline their plans to revive the world’s third

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