new String() vs literal string performance

Question

This question has been asked many times on StackOverflow but none of them were based on performance.

In Effective Java book it\'s given tha

Answer 1

The JVM maintains a pool of references to unique String objects that are literals. In your new String example you are wrapping the literals with an instance of each.

See http://www.precisejava.com/javaperf/j2se/StringAndStringBuffer.htm