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Japan GDP Gains 2.2% On Year In Q2

Japan's gross domestic product expanded an annualized 2.2 percent on year in the second quarter of 2022, the Cabinet Office said in Monday's preliminary reading.

That missed expectations for an increase of 2.5 percent following the upwardly revised 0.5 percent contraction in the previous three months (originally -1.0 percent).

On a seasonally adjusted quarterly basis, GDP gained 0.5 percent - again shy of forecasts for 0.6 percent following the upwardly revised 0.1 percent decline in the three months prior (originally -0.2 percent).

Capital expenditure improved 1.4 percent on quarter, beating forecasts for an increase of 0.9 percent after shrinking 0.7 percent in Q1.

Private consumption was up 1.1 percent on quarter, missing forecasts for 1.3 percent after gaining 0.1 percent in the previous quarter.

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