The preliminary data was out in August, this times its the 'final' reading

Preliminary here: Japan Q2 preliminary GDP 0.5% q/q (vs. expected +0.3%)

  • GDP (seasonally adjusted) for Q2, preliminary, q/q: 0.5%
  • GDP Annualized (seasonally adjusted) for Q2, preliminary y/y: 2.6%
  • GDP Nominal (seasonally adjusted) for Q2, preliminary q/q: 0.4%
  • GDP Deflator y/y for Q2, preliminary: 0.1% (Deflator is an inflation measure)
  • GDP Consumer Spending y/y for Q2, preliminary q/q: 0.7%
  • GDP Business Spending y/y for Q2, preliminary q/q: 1.3% (capex up for the 7th straight quarter)
  • The second estimate of Japan's June quarter GDP growth is expected to be unchanged from the preliminary estimate. We expect GDP growth hit 0.5% q/q, following a 0.2% contraction in the March stanza. Private consumption drove the rebound, while business investment also clawed back gains from the prior quarter. A small but consistent rise in wages throughout early 2018, along with further labour market tightening, culminated in a consumption rebound. The yen's favourable levels will support further increases in business sentiment, which means it's unlikely to decline in the second half of the year. Net exports were a blip in the June quarter, as higher commodity prices bloated the import bill.