Japan Q2 real GDP -7.9% QoQ (prelim -7.8%, Reuters poll -8.1%)

According to Reuters reporting the Cabinet Office, Japan's economy shrank an annualised 28.1% in April-June, worse than the initial estimate of a 27.8% contraction, revised data showed.

Key notes

The revised figure for gross domestic product (GDP) compared with economists' median forecast for a 28.6% contraction in a Reuters poll.

• JAPAN APRIL-JUNE REVISED REAL GDP -7.9% QTR/QTR (PRELIM -7.8%, REUTERS POLL -8.1%)
• 07-Sep-2020 17:50:06 - JAPAN APRIL-JUNE REVISED REAL GDP ANNUALISED -28.1% (PRELIM -27.8%, POLL -28.6%)
• 07-Sep-2020 17:50:10 - JAPAN APRIL-JUNE REVISED CAPEX -4.7% QTR/QTR (PRELIM -1.5%, POLL -3.1%)
• 07-Sep-2020 17:50:15 - JAPAN APRIL-JUNE REVISED PRIVATE CONSUMPTION -7.9% QTR/QTR (PRELIM -8.2%)
• 07-Sep-2020 17:50:20 - JAPAN APRIL-JUNE REVISED NET EXTERNAL DEMAND CONTRIBUTION TO GDP -3.0 PCT POINTS (PRELIM -3.0 PCT POINTS)
• 07-Sep-2020 17:50:26 - JAPAN APRIL-JUNE REVISED DOMESTIC DEMAND CONTRIBUTION -4.9 PCT POINTS (PRELIM -4.8 PCT POINTS)

Description of GDP

The Gross Domestic Product released by the Cabinet Office shows the monetary value of all the goods, services and structures produced in Japan within a given period of time. GDP is a gross measure of market activity because it indicates the pace at which the Japanese economy is growing or decreasing. A high reading or a better than expected number is seen as positive for the JPY, while a low reading is negative.

More to come...