Japan's economy is growing, but political uncertainty is among the risks
Japan’s economy grew at an annual rate of 2.9%, slower than the earlier report for 3.1% growth, in the April-June period, boosted by better wages and spending
TOKYO (AP) — Japan’s economy grew at an annual rate of 2.9%, slower than the earlier report for 3.1% growth, in the April-June period, boosted by better wages and spending, revised government data showed Monday.
That shows clear risks remain, including U.S. economic growth, which greatly affects export-reliant Japan. Political uncertainty in Japan is another risk as the ruling party picks a new leader.
About a dozen candidates are seeking to succeed Prime Minister Fumio Kishida as head of the Liberal Democratic Party. The winner of its Sept. 27 vote is a near-certainty to be the next prime minister since the party controls parliament.
The world’s fourth-largest economy grew 0.7% in the fiscal first quarter, according to the Cabinet Office, rebounding from the contraction in the previous quarter.
