Japan GDP Climbs 1.2% On Quarter In Q2

Japan’s gross domestic product expanded a seasonally adjusted 1.2 percent on quarter in the second quarter of 2023, the Cabinet Office said on Friday.

That was shy of expectations for an increase of 1.5 percent but was up from 0.7 percent on the previous three months.

On an annualized basis, GDP advanced 4.8 percent – again missing forecasts for 6.0 percent but up from 2.7 percent in the three months prior.

Capital expenditure was down 1.0 percent on quarter, missing forecasts for a flat reading after improving 1.4 percent in the first quarter.

External demand was up 1.8 percent on quarter after slipping 0.3 percent in Q1, while private consumption sank 0.6 percent on quarter after adding 0.5 percent in the previous quarter.

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