Japan economy records 0.3% growth in Q2 despite Delta-variant threat
Category: #headlines  By Mateen Dalal  Date: 2021-08-17
  • shareshare_icon
  • Twitter
  • Facebook
  • LinkedIn

Japan economy records 0.3% growth in Q2 despite Delta-variant threat

After witnessing a contraction in the previous quarter, Japan's economy saw a 0.3% rise during the three months ended June, recording a higher-than-expected growth amidst the surge in coronavirus infections and imposition of new restrictions.

Notably, analysts had estimated the country’s quarter-on-quarter growth to be just 0.1%. The contraction in the first quarter was due to a decline in consumption after the government requested citizens to stay at home to prevent the spread of the virus.

According to sources, the cabinet office made an upward revision for Q1, after economic growth plunged by 0.9%, slightly lesser than the estimated 1% decline.

Last year, the country witnessed growth in the two quarters leading up to December, but a resurgence in COVID-19 cases over the winter led the government to declare states of emergency, bringing economic growth to a grinding halt.

It is worth noting that capital city Tokyo, and several regions have been substantially slow at implementing vaccine rollouts as compared to other developed nations and have spent a large part of the year under virus restrictions.

The program has now picked up the pace and approximately one-third of the Japanese population is fully vaccinated. But COVID-19 cases in the country are at record levels with the number of daily cases reaching the 20,000 marks during the past few days.

If reports are to be believed, the sharp rise in infections has delayed possibilities of a fast vaccine-driven recovery, although some analysts believe that growth is still in the offing.

Japan’s output edged higher in the second quarter and will follow along the same lines during the current quarter with the Delta-driven fifth wave clouding any chances of heavy consumer spending. However, efficient vaccine rollouts are likely to be a game-changer and might instigate a strong economic recovery in Japan in the last quarter.

Source Credits –

https://www.moneycontrol.com/news/business/economy/japans-economy-grew-0-3-percent-in-q2-despite-virus-surge-7340561.html

  • shareshare_icon
  • Twitter
  • Facebook
  • LinkedIn


About Author

Mateen Dalal     twitter

Mateen Dalal

A qualified electronics and telecommunication engineer, Mateen Dalal embarked on his professional journey working as a quality and test engineer. Harnessing his passion for content creation however, Mateen pens down industry-rich articles for ReportsGO.com and a few o...

Read More..

More News By Mateen Dalal

U.S. records 1.35 Mn COVID-19 cases in a day, setting a global record

U.S. records 1.35 Mn COVID-19 cases in a day, setting a global record

By Mateen Dalal

The United States has recorded 1.35 million new Coronavirus cases, shattering global record of the highest daily total cases registered by any country in the world. The development comes amidst the widespread outbreak of the Omicron variant across th...

U.K. manufacturers predict enhanced output despite Brexit & inflation

U.K. manufacturers predict enhanced output despite Brexit & inflation

By Mateen Dalal

According to an industry study released recently, British manufacturers are quite optimistic that this year the business conditions and productivity is likely to improve, despite the fact that most have been affected by Brexit and rapid inflation. &...

Amazon to partner with Stellantis to develop green vans & smarter cars

Amazon to partner with Stellantis to develop green vans & smarter cars

By Mateen Dalal

Amazon.com Inc. and Stellantis N.V have revealed that they will partner to produce smart cars and trucks. The duo will also work on deploying electric vans which would be produced by Stellantis for Amazon’s delivery network. Both Amazon and St...