After the recession caused by the pandemic COVID-19, the Japanese economy has recovered faster than expected. This reports “Bi-bi-si”.
The official data show that from April to June 2021 grew twice as fast as the third largest economy in the world, than expected, thereby surprising economists who had expected at least a significant rise. However, analysts warn that in this quarter due to the restoration of the state of emergency, associated with a new surge of disease coronavirus, growth will slow down.
Preliminary data show that the gross domestic product (GDP) in Japan grew by 1.3 percent year on year in the second quarter. This happened after the fall of 3.7 percent in the previous three months. Recent data were much better than expected growth of 0.7 percent, as the cost of natural and legal persons recovered after the first wave of coronavirus.
However, Japan’s recovery is much slower than in other advanced economies such as the US, where in the second quarter was recorded GDP growth of 6.5 percent. Economy Minister Yasutoshi Nishimura justifies this by the fact that now the priority for Japan is to prevent the spread of the virus, and the government is struggling to contain a pandemic.
August 16 benchmark index Nikkei Japanese shares closed down 1.6 percent the third trading day in a row. During 2020 the country’s economy has shrunk by more than 4.8 percent, and a precedent was the first in a decade. Thanks to sustained export Japan managed to recover from the first wave of a pandemic, while at the same time, a sharp increase in cases of infection “delta” -version of the virus in other parts of Asia led to further disruption of supply chains for some Japanese manufacturers, which could damage production and compromise and the already fragile recovery.