Japan’s economy grows faster than estimated amid election talk

GDP grew at an annualised 2.7% in the first quarter from the previous three months, revised figures from the cabinet office showed. That beat both an initial reading of 1.6% and the 1.9% expansion forecast by economists. —.Bloomberg

TOKYO: Japan’s economy expanded at a faster pace than initially estimated as businesses ramped up spending, a largely positive development for Prime Minister Fumio Kishida amid ongoing speculation he may call an early election.

Gross domestic product grew at an annualised 2.7% in the first quarter from the previous three months, revised figures from the cabinet office showed yesterday.