Japan's second-quarter growth reaches an annualised 1.4 per cent in the Cabinet Office revision
The Cabinet Office's second preliminary estimate puts April-June real growth at 0.4 per cent on the quarter, an annualised 1.4 per cent. Nikkei Asia reported that this revises the first estimate of 0.3 per cent and 1.1 per cent. Business investment fell 0.9 per cent on the quarter and private consumption was unchanged at 0.0 per cent.
Economics & Markets··Night
Quarterly growth is 0.4 per cent and annualised growth 1.4 per cent
The Cabinet Office's second preliminary estimate puts April-June real growth at 0.4 per cent on the quarter, an annualised 1.4 per cent, after an annualised 1.9 per cent in the first quarter. Nikkei Asia reported that the first estimate had been 0.3 per cent on the quarter and 1.1 per cent annualised, against a median economist forecast of 1.6 per cent. The first preliminary estimate for the same quarter was published last month.[1], [2]
Business investment fell 0.9 per cent, revised from a 1.2 per cent drop
On the quarter, business investment fell 0.9 per cent. Nikkei Asia reported that the first estimate had been a 1.2 per cent drop and that the revision lifted that reading to a 0.9 per cent fall. The Cabinet Office's second preliminary estimate carries the same 0.9 per cent quarterly decline. On an annualised basis, business investment fell 3.7 per cent. The revision did not reverse the direction of the fall.[1], [2]
Household consumption was unchanged, exports rose 0.4 per cent and imports fell 1.7 per cent
Private consumption was unchanged at 0.0 per cent. On the quarter, government consumption rose 1.7 per cent, exports rose 0.4 per cent and imports fell 1.7 per cent. Nikkei Asia reported that private consumption was flat, that external demand added 0.5 of a percentage point and that domestic demand subtracted 0.1 of a percentage point.[1], [2]
