Japan's second-quarter Gross Domestic Product has been released, posting its first growth in two quarters:
Japan Q2 real GDP +0.3% QoQ; mni median +0.2%.
Q2 real GDP +1.3% annualized; mni median +0.8%.
Q2 GDP posts 1st growth in 2 quarters.
Q2 domestic demand contribution +0.6 pp.
Q2 consumption +0.8% QoQ; +0.5 pp contribution.
Q2 capex +1.7% q/q; +0.3 pp contribution.
Q2 net export contribution -0.3 pp.
Q1 real GDP rev to -0.9% q/q; to -3.7% annualized.
The yen is stronger after the data as the Nikkei opens lower. USD/JPY is making fresh lows, extending the moves from Friday in a weaker US dollar.
The Gross Domestic Product released by the Cabinet Office shows the monetary value of all the goods, services and structures produced in Japan within a given period of time. GDP is a gross measure of market activity because it indicates the pace at which the Japanese economy is growing or decreasing. A high reading or a better than expected number is seen as positive for the JPY, while a low reading is negative.
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