Japan's July GDP up 0.5%, driven by capital investment: JCER

Exports also rose 1.7%, thanks to brisk demand in EU

The sharp increase COVID-19 infections in Japan led to a slight drop in private consumption, which had been recovering since early spring. © Reuters

Nikkei staff writers

September 9, 2022 19:03 JST

TOKYO -- Japan's seasonally adjusted gross domestic product for July grew 0.5% from the previous month, helped by a rise in corporate capital spending and exports, the Japan Center for Economic Research said Friday, marking the second consecutive month of expansion for the world's third-largest economy.

If GDP growth in the rest of the July to September quarter continues at the same pace as in July, Japan's economic output in the quarter will expand by 3.8% versus the April to June period, the think tank estimated.