The stronger-than-expected figures were driven by resilient exports and robust capital expenditure, which climbed 1.3 per cent in April-June. Private consumption, which accounts for more than half of Japan’s economic output, rose 0.2 per cent, matching the previous quarter’s pace. 

Japan’s economy outpaces forecasts in Q2 despite US tariff headwinds

Japan is no longer the third-largest economy in the world. The Asian country has lost that position to Germany, after contracting for the last six months of 2023 and entering a recession. Official data shows that Japan's economy unexpectedly shrank due to weak domestic demand. This has raised uncertainty about the central bank's plans to exit its ultra-easy monetary policy this year.

Japan no longer third-largest economy

A sales-tax hike and a devastating typhoon plunged Japan's economy into its biggest contraction in five years in the final quarter of 2019. Now, the novel Coronavirus outbreak is threatening a return to development.

Coronavirus Outbreak: Japan's GDP falls by 6.3%, registers worst slump in last 5 yrs

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Japan’s economy outpaces forecasts in Q2 despite US tariff headwinds

Japan no longer third-largest economy

Coronavirus Outbreak: Japan's GDP falls by 6.3%, registers worst slump in last 5 yrs