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Japan’s second-quarter GDP revised down to 4.8% from 6%


Preliminary economic growth data for the second quarter of 2023 in Japan is here:

  • Japan: Preliminary Q2 GDP +1.5% q/q (vs. +0.8% expected)

Q2 GDP was revised to +1.2% q/q and +4.8% y/y

  • by +1.5% and +6.0% respectively

The data confirms weak domestic demand, with private consumption coming in at -0.6% q/q (preliminary figure was -0.5%). Business investment is also weak, with investment coming in at -1.0% q/q (preliminary forecast was -0.7%).

External demand made a positive contribution at +1.8% q/q.