Japan Q2 GDP growth led by exports, weak consumption a source of concern By Reuters

TOKYO (Reuters) – Japan’s economy grew at an annualised clip of 6.0% in April-June from the previous quarter, government data showed, marking the third straight quarter of expansion led by external demand, although recovery from the COVID-19 pandemic remained tame.

The gross domestic product (GDP) figure translated to a quarterly increase of 1.5%, bigger than a median estimate for 0.8% in a Reuters poll of 18 economists.

By key sub-sectors, private consumption, which makes up more than half of the world’s third-largest economy, fell 0.5% quarter-on-quarter. Exports expanded 3.2%, while capital expenditures were flat.