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Japan’s Second-Quarter Economic Growth Adjusted to 1.9%

September 8, 2021 by Forex Winner Leave a Comment

Japan’s Second-Quarter Economic Growth Adjusted to 1.9%

Source: Cabinet Office

Japan’s economic growth in the second quarter was revised upward to 1.9% from the earlier announced 1.3%, cementing the country’s rebound from the COVID-19 pandemic. EWJ is up 0.15% premarket.

  • Quarter-on-quarter growth was also revised higher to 0.5% from 0.3%.
  • Domestic demand was adjusted higher to 0.8% from 0.6%, reflecting the higher public demand growth which was raised to 0.7% from 0.1%.
  • Upward revisions were seen in government consumption and gross fixed capital formation, while public investment was revised lower.
  • Private demand growth was also lowered to 0.8% from 0.9%, as private inventories fell deeper than earlier announced.
  • The latest readings compare with a 1.6% annual growth median forecast of economists and 0.4% quarter-on-quarter growth expectation.

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