Japan ekes out growth as consumers splurge amid COVID surge

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Japan’s economy grew at an annual rate of 2.2% for the April-June quarter from the previous quarter, as consumer spending rebounded with COVID-19 restrictions getting gradually lifted. Japan’s gross domestic product, or GDP, the sum of the value of a nation’s products and services, expanded 0.5% from January-March, during which the economy had stayed flat, according to preliminary government estimates released Monday. Economists had forecast 0.6% on-quarter growth. The annual numbers show how the economy would have grown if the quarterly rate were to continue for a year. Private consumption jumped at an annual rate of 4.6%.