Japan Q2 GDP revised down to 4.8% from 6%

<p>The preliminary economic growth data for the second quarter of 2023 in Japan is here:</p><ul><li><a href="https://www.forexlive.com/news/japan-preliminary-q2-gdp-15-qq-vs-expected-08-20230814/" target="_blank" data-article-link="true">Japan preliminary Q2 GDP +1.5% q/q (vs. expected +0.8%)</a></li></ul><p>Q2 GDP has been revised to +1.2% q/q and +4.8% y/y</p><ul><li>from +1.5% and +6.0% respectively</li></ul><p>The data confirms weak domestic demand with private consumption coming in at -0.6% q/q (the preliminary for this was -0.5%). Business investment is soft too, capex coming in at -1.0% q/q (the prelim on this was -0.7%).</p><p>External demand a positive contribution at +1.8% q/q.</p><p>The deflator, an inflation indicator, comes in at 3.5% y/y</p>

This article was written by Eamonn Sheridan at www.forexlive.com.