Japan's Economy Surpasses Expectations with 3.1% Growth

Japan's economy expanded at an annualized rate of 3.1% in the April-June quarter, outstripping the median market forecast of 2.1%. The rise in gross domestic product (GDP) translated into a quarterly increase of 0.8%, exceeding the median estimate of 0.5%.

Japan's economy has demonstrated robust growth, expanding at an annualized rate of 3.1% in the April-June quarter, according to government data released on Thursday. This performance significantly outpaces the median market forecast, which had predicted a 2.1% increase.

The rise in gross domestic product (GDP) for the quarter translates to a 0.8% increase compared to the previous quarter. This figure also beats the median estimate of a 0.5% quarterly rise.

The data underscores a stronger-than-expected economic rebound, highlighting the resilience of Japan's economy in the face of various global economic challenges.

(With inputs from agencies.)