Jump in Japan's Q2 GDP shows export recovery, weak domestic demand

Annualized 6.0% beats forecasts, marking third consecutive quarter of expansion

A container terminal in Tokyo. Exports helped expand the Japanese economy in the second quarter. (Photo by Yo Inoue)

CHIHIRO ISHIKAWA, Nikkei staff writer

August 15, 2023 08:51 JST

Updated on August 15, 2023 13:09 JST

TOKYO -- The Japanese economy grew an annualized 6.0% in the April-June period from the previous quarter, marking the third consecutive quarter of expansion, according to preliminary figures released Tuesday by the Cabinet Office.

The second quarter's growth in the gross domestic product accelerated from a revised 3.7% expansion in the previous quarter and was well above projections -- a survey of 19 economists compiled by Quick had projected a median 3.1% expansion in GDP.