Japan’s gross domestic product jumps 1.5% in second quarter

Tokyo, Aug. 15, (dpa/GNA) – Japan’s gross domestic product expanded a seasonally adjusted 1.5% on quarter in the second quarter of 2023, the Cabinet Office said in Tuesday’s preliminary report.

That blew away expectations for an increase of 0.8% following the upwardly revised 0.9% gain in the previous three months, originally 0.7%.

On an annualized basis, GDP was up 6.0% – again beating forecasts for a gain of 3.1% following the upwardly revised 3.7% increase in the first quarter.

Capital expenditure was flat on quarter, missing forecasts for an increase of 0.4% after climbing 1.8% in the previous quarter.

External demand was up 1.8% on quarter and private consumption eased 0.5%.

GNA