TOKYO — Japan’s economy grew at an annualized pace of 0.9% in May from the previous month, led by private-sector capital expenditures, according to an estimate released by the Japan Center for Economic Research (JCER) on Wednesday.
The growth marks a sharp reversal from the previous month, when the Nikkei-affiliated think tank estimated that the economy contracted an annualized 0.7%. If the economic growth maintains the April-May pace, the nation’s gross domestic product could rise by an annualized 0.9% in inflation-adjusted real terms in the second quarter of this year compared to the preceding quarter, JCER said.
