The preliminary economic growth data for the second quarter of 2023 in Japan is here:
Q2 GDP has been revised to +1.2% q/q and +4.8% y/y
- from +1.5% and +6.0% respectively
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%).
External demand a positive contribution at +1.8% q/q.
The deflator, an inflation indicator, comes in at 3.5% y/y
