April-June real GDP grew at an annualized 1.1%, below market forecasts
Macro
According to the preliminary estimate of national accounts for the April-June quarter released by the Cabinet Office on the 17th, real gross domestic product rose 0.3% from the previous quarter, or an annualized 1.1%. Private final consumption expenditure was flat at minus 0.0% from the previous quarter, and private non-residential investment fell 1.2%. The median forecast of private research institutes compiled by Reuters was for a 0.5% quarter-on-quarter rise and an annualized 2.0% gain, so the actual result came in below that.
