Japan was the slowest major economy between April and June. It only grew 1.3%

After contracting around 4% between January and March, Japan’s economy responded and emerged from recession in the second quarter of this year, with a growth of 1.3%, according to the first estimate released Monday by the government office in Tokyo. This is the discrepancy in Japanese GDP relative to the same period last year, which in technical terms is called annual growth.

However, it is modest growth under the large economies that have already released their first estimates for the second quarter. It is even weaker growth, although it was higher than analysts’ expectations, which indicated less than 1%. Growth leadership slipped to the United Kingdom, whose economy rose by 22.2%, followed by Spain with 19.8%. The eurozone as a whole grew by about 14% – with Portugal 15.5% – and the US 12.2%.

The growth between April and June was due to a 3.5% increase in private demand, and in particular in investment, even though the largest metropolitan area, Tokyo, which has a third of Japan’s population, was under Tokyo’s third mandate. emergency in this chapter.

In contrast to this expansion, there was a 5.7% contraction in public investment. “Private consumption, which accounts for the bulk of Japan’s GDP statistics, increased for the first time in two quarters, and capital investment also contributed positively on the back of strong business performance,” Reuters confirmed.

In terms of the difference from quarter to quarter, the so-called chain growth, Japan jumped from a 0.9% contraction in the first quarter of this year to an expansion of 0.3%, which is also more than analysts’ expectations. But from an international comparison perspective, it’s a very poor contrast in the series, compared to 6.5% in the US, around 5% in the UK and Portugal, and 2% in the eurozone as a whole. Worse than Japan, only Singapore, which posted a 1.8% contraction in the second quarter compared to the first, despite an annual growth of 14.7%.

In Asia, Japan appears among the “Pacific Tigers”, as the slowest economy in the second quarter, compared to an annual growth rate of 14.7% for Singapore, 7.9% for China and 5.9% for the South. Korea.