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Japan’s GDP grows more than expected

Japan’s economy grew 6% in the second quarter, far more than expected

The gross domestic product (GDP) figure translated to a quarterly increase of 1.5%. It's the third straight quarter of expansion led by external demand and expanded exports by 3.2% respectively.

The positive GBD data was driven by exports of goods such as automobiles as supply chain constraints, including shortage of semiconductors, eased. Recovering inbound tourism after the COVID-19 pandemic also contributed to the services exports.

(Picture: Japan flag and Japanese Yen cash bills. Picture credit: Getty Images)

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