Japan’s GDP down 1.0% in June: JCER
TOKYO — Japan’s inflation-adjusted gross domestic product fell 1.0% in June from the previous month, according to data released Tuesday by the Japan Center for Economic Research.
With the latest estimates, JCER forecasts Japan’s GDP contracted 0.9% in the April to June quarter versus the previous three months.
Seasonally adjusted GDP declined to 531 trillion yen ($4.8 trillion) on an annualized basis, JCER said, marking a third straight month of contraction.
The fall was led by sluggish household consumption and weak corporate capital investment, which slipped 1.0% and 1.8% versus the previous month, respectively.
Exports rose 0.7%, while imports climbed 1.3% compared with the previous month. Taken together, Japan’s external trade subtracted a tenth of a percentage point from economic growth in June.