Japan's economy shows weaker than expected 1.1% growth in second quarter
Japan's economy grew at an annualized 1.1% in the second quarter, missing analysts' expectations, according to newly released data. The weaker-than-expected figures reflect a slowdown in exports and capital spending. The result has renewed debate over the Bank of Japan's approach to interest rates.
Japan's economy grew at an annualized 1.1% in the second quarter, coming in below analysts' expectations, according to data released this week. The figures suggest the country's recovery has been more fragile than previously anticipated.
Economists said the slowdown was driven largely by weaker export demand and a cautious approach to capital spending among Japanese companies. Fluctuations in global demand and yen volatility also weighed on growth during the period.
The soft growth figures have reignited debate over the Bank of Japan's plans for further interest rate increases. Analysts said the central bank may adopt a more cautious stance at its upcoming policy meetings as a result.
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