A Reuters survey on Friday showed that Japan's economic growth slowed in the second quarter as weak global demand and rising trade tensions impacted its exports, but good and strong domestic demand has offset external pressures.
Estimates of 17 economists show that GDP has grown at an annual rate of 0.4% between April and June, now down from 2.2% in the first quarter, which means a gain of 0.1 Percentage of season-to-season ratios Japanese exports have fallen seven straight months through June, and are particularly under pressure in high-tech electronics.
External demand (export-import) declined 0.5% in the second quarter, after 0.4% growth from January to March. Domestic demand, however, likely rebounded in the April-June quarter, as a 10-day holiday boosted spending on services, cars and home appliances, analysts said.
“Consumer spending contributed to the third straight quarterly growth,” said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute.
source: forex factory