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Japan GDP grew 6%, handily beating expectations on robust exports



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Tokyo Skytree and Mount Fuji are seen from the I-link Town observatory in Ichikawa city, Chiba prefecture, east of Tokyo on July 2, 2023.Philip Fong | Afp | Getty ImagesJapan’s economy posted its third straight quarterly expansion, provisional government data showed Tuesday, as robust export growth contributed to an annualized 6% expansion in the second quarter, handily beating market expectations.Economist surveyed by Reuters had expected the world’s third-largest economy to post 3.1% growth in the April-June quarter. The impressive gross domestic product data translated to a more modest quarterly expansion of 1.5%, topping expectations for 0.8% growth.The benchmark Nikkei 225 index extended gains slightly to trade up nearly 1%, while the Japanese yen pared losses against the U.S. dollar and Japanese government bonds across the various tenures were broadly unchanged.Tuesday’s GDP print followed an annualized 2.7% growth in the first quarter, pointing to a continued post-Covid recovery for Japan’s …

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