Japan’s GDP grows by 6%

Preliminary estimates of the country’s government show that Japan’s GDP rose by 6% on an annualized basis in the second quarter (assuming GDP had expanded at the same rate for four consecutive quarters).

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Iris Barker

Published on

August 15, 2023

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Japan’s GDP grows by 6% © The Strategist

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According to DailyFx’s poll of analysts, growth would only be 3.1%.

Japan’s first quarter GDP increased by 3.7% year over year, and its fourth quarter GDP increased by 0.2%.

Second-quarter growth was expected to be 1.5% as compared to the previous quarter. Analysts anticipated that the index would rise by 0.8%. GDP growth for April through June was 2% compared to the second quarter of previous year, matching the first quarter’s level.

Up to 60% of Japan’s GDP is made up of personal consumption, which fell by 0.5% in quarterly terms in the second quarter despite expectations for growth of 0.1%.

source: dailyfx.com