Japan upgrades Q2 GDP as eased COVID curbs lift spending
Data raised to annualized 3.5%; weak yen and rising living costs cloud outlook
The Shibuya neighborhood of Tokyo. Japan's consumers in the April-June quarter took advantage of the easing of COVID restrictions more than originally thought but are having to hold back on some spending as the yen weakens.
TOKYO (Reuters) -- Japan's economy grew more than initially reported in the second quarter, as the lifting of local COVID-19 restrictions boosted consumer and business spending.
That meant Japan saw its economy grow for a third quarter in April-June, even as worries about a slate of issues such as a global slowdown and high energy prices cloud the outlook.
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