Japan Growth Picks Up More Than Estimated on Investment

Japan’s economy grew at a quicker pace than estimated in the first quarter, as business spending increased more than previously reported.

Gross domestic product grew an annualized 6.7 percent in the first three months of the year, the Cabinet Office said in Tokyo today, faster than a preliminary 5.9 percent and the median forecast of 5.6 percent by economists in a Bloomberg News survey. The nation’s current-account surplus narrowed in April from a year earlier, separate data showed.