The GDP growth rate has increased for six consecutive quarters for the first time since 2006; the annualized rate of average quarterly growth during this period marked relatively high growth of 1.7 percent, thereby maintaining a significantly higher figure than the potential growth rate, which is estimated to be in the range of 0.5-1.0 percent.
This shows that the output gap — an indicator of the utilization of capital and labor — has clearly improved. This consecutive growth for several quarters also seems to have steadily exerted a positive influence on household and business sentiment. Looking at developments in detail, in the corporate sector, exports have followed an increasing trend, particularly in automobile-related and capital goods.