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Economy

Japan's GDP grew 0.5% in May: JCER

Export growth outweighed drop in demand at home

TOKYO -- Japanese real gross domestic product rose 0.5% on the month in May, lifted by higher demand for exports, the Japan Center for Economic Research said Tuesday in its monthly estimates.

Corporate capital investment dropped 0.9% following a sizable upswing in information-technology-linked spending in April. But exports jumped 1.9%, with growth in those bound for the European Union and the U.S. mitigating a slump in exports to China. Such brisk external demand contributed to the GDP growth.

Housing investment also rose 1.9%, while consumer spending was roughly on a par with April's level.

(Nikkei)

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