The Japanese economy grew by 0.9 percent in the second quarter compared to the previous three months, European media reported on Monday, citing revised data from the Japanese government.
In preliminary data, growth was estimated at 0.6 percent, according to the BBC.
According to the revised data, the world’s third-largest economy achieved an annual growth rate of 3.8 percent, as shown by the latest data from the Tokyo government.
In recent months, Japan has taken aggressive measures to stimulate the economy after years of stagnation.
“The measures taken by the Japanese government have supported optimism regarding recovery, which is reflected in increased corporate investments,” explains Martin Schulz from the Fujitsu Research Institute to the BBC.
“The measures are slowly translating into the labor market and the real economy. The effects of this have now begun to show in the numbers,” he adds.
The economy also received an additional boost last weekend when it was decided that Tokyo would host the 2020 Olympic and Paralympic Games.
Japan will spend approximately eight billion dollars on renovating old and building new stadiums. According to analysts, consumption and construction activities will further support the recovery of the Japanese economy in the coming years.
