Japan's GDP surpasses expectations in the second quarter, growing by 0.8% compared to the previous period.

Japan's GDP surpasses expectations in the second quarter, growing by 0.8% compared to the previous period.

Despite Reuters poll estimates predicting a 0.5% increase in GDP quarter on quarter, the actual rise was 0.8%. This was also a reversal from the revised 0.6% fall seen in the first quarter.
After the release of GDP data, Japanese markets increased, and the yen weakened slightly against the U.S. dollar.

On Thursday, Japan's second-quarter GDP surpassed analysts' expectations, achieving growth both quarter-over-quarter and on an annualized basis.

Despite Reuters poll estimates predicting a 0.5% increase in GDP quarter on quarter, the actual rise was 0.8%. This was also a reversal from the revised 0.6% fall seen in the first quarter.

The company's annual growth rate was 3.1%, surpassing the predicted 2.1% increase.

Despite a decline of 0.9% in the first quarter, the country's GDP fell for a second straight quarter, down 0.8% on a year-on-year basis.

After the release of the GDP data, the Nikkei 225 increased by 0.16% and the Topix index gained 0.44%.

The Japanese yen strengthened marginally against the U.S. dollar, trading at 147.18.

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by Lim Hui Jie 8/15/2024, 12:06:33 AM

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Japan's GDP surpasses expectations in the second quarter, growing by 0.8% compared to the previous period.

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