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2019.08.0821:15:00UTC+00Japan GDP Expands 0.4% On Quarter In Q2

Japan's gross domestic product gained a seasonally adjusted 0.4 percent on quarter in the second quarter of 2019, the Cabinet Office said on Friday.

That beat expectations for an increase of 0.1 percent following the upwardly revised 0.7 percent gain in the previous three months (originally 0.6 percent).

On an annualized yearly basis, GDP gained 1.8 percent - again exceeding expectations for an increase of 0.5 percent following the upwardly revised 2.8 percent gain in the three months prior (originally 2.2 percent).

Nominal GDP was up 0.4 percent on quarter, beating forecasts for 0.1 percent and down from 1.0 percent in the first quarter.

The GDP deflator was up 0.4 percent on year, beating expectations for 0.3 percent and up from 0.1 percent in the previous three months.

Private consumption was up 0.6 percent on quarter, shy of expectations for 0.7 percent and up from 0.1 percent in the three months prior.

Business spending climbed 1.5 percent on quarter, topping forecasts for 0.8 percent and up from 0.4 percent in Q1.

Also on Friday, the Bank of Japan said that the M2 money stock in Japan was up 2.4 percent on year in July, coming in at 1,031.0 trillion yen.

That exceeded expectations for an increase of 2.3 percent, which would have been unchanged from the previous month.

The M3 money stocks was up an annual 2.0 percent - unchanged and in line with expectations.

The L money stock was up 1.9 percent on year to 1,813.4 trillion yen, accelerating from 1.7 percent in June.

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