MNI BRIEF: Japan Q2 GDP To Rise 0.5% Q/Q; 2.2% Annualised
Japan's economy for Q2 is expected to have grown 0.5% q/q, or an annualised 2.2%, the first rise in two quarters following the recovery of private consumption and capital investment, according to private economist predictions.
Japan's economy contracted 0.7% q/q, or an annualised 2.9% in Q1.
Economists predicted private consumption, which accounts for about 60% of GDP, has risen 0.7% q/q following Q1's 0.7% decline.
Capital investment is expected to have risen 0.8% q/q, reversing from Q1's -0.4%, while public investment is forecasted to have increased 2.7% q/q from -1.9%.
The economists expect net exports of goods and services to have made a negative 0.1 percentage point contribution to total domestic output, after falling 0.4 pp in Q1.
The Cabinet Office will release preliminary GDP data for the April-June quarter at 0850 JST on Aug. 15 (2350 GMT on Aug. 14).
The Bank of Japan hiked its policy rate 15 basis points on Wednesday, its first increase since March. (See MNI BOJ WATCH: Ueda Keeps Rate Hike Options Open)