Japan GDP +0.9% On Quarter In Q2

By IBTimes Staff Reporter | August 16 2009 8:01 PM

RTTNews - The Japanese economy expanded by 0.9 percent in the second quarter of 2009, the Cabinet Office said in a preliminary report on Monday, halting its recession by marking the first positive growth in five quarters. That was roughly in line with analyst expectations for a 1.0 percent increase after the revised 3.1 percent contraction in the first quarter.

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On an annualized basis, GDP was up 3.7 percent - roughly in line with forecasts for a 3.9 percent gain following the 14.2 percent decline in the previous three months. Nominal GDP was down 0.2 percent on quarter and 0.7 percent annualized.

Private consumption was up 0.8 percent on quarter, while private capital outlays were off 4.3 percent on quarter. The deflator came in at 0.5 percent. Imports were down 5.1 percent, while exports added 6.3 percent.

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