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Cabinet Office: Japan’s GDP up 0.1% in the April-June Quarter

August 13, 2007
By Ken Worsley


Earlier this afternoon, the Cabinet Office released its estimates for GDP growth in the April-June 2007 quarter. The report shows that GDP grew 0.1% over that time (or, at an annualized pace of 0.5%).

According to the report, exports were canceled out by imports, and thus did not contribute to GDP growth for the first time since the same quarter last year, when they pulled GDP downward 0.1%. The gain registered in the more recent quarter was attributed to domestic consumption, which was up 0.4%, and capital spending, which was up 1.2%. Consumption of households, excluding rent, was up 0.3%. Private residential investment, however, was down 3.5% over the April-June period.

Private non-residential investment was up 1.2% and government consumption increased 0.3%.

State Minister for economic and fiscal policy Hiroko Ota was just shown from a press conference earlier today saying that the economy is still in a period of recovery.

I’m dropping my projection of a BOJ rate hike in August from 65% to 50%. As always, it will not be at 50% on the day the BOJ policy board meeting begins next week.

Filed Under Cabinet Office, Economic Reports, GDP, Japan 

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Comments

One Response to “Cabinet Office: Japan’s GDP up 0.1% in the April-June Quarter”

  1. Capital Spending Down 4.9% in the April-June Quarter : Japan Economy News & Blog on December 2nd, 2007 11:07 pm

    […] the April-June quarter will be released next Monday. Preliminary data from the Cabinet Office had GDP up 0.1% in that quarter, and had assumed a 1.2% rise in capital spending. It will be interesting to see if they call it flat or are willing to go into negative territory, […]

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