On a year-on-year basis, however, the country's GDP fell for a second straight quarter, down 0.8% after having declined 0.9% in the first quarter.
GDP rose 0.8% quarter on quarter compared to Reuters poll estimates of a 0.5% rise. This was also a reversal from the revised 0.6% fall seen in the first quarter.
Following the GDP data release, Japanese markets rose, while the yen strengthened marginally against the U.S. dollar. Pedestrians cross an intersection in the Shibuya district of Tokyo, Japan, on Tuesday, April 25, 2023. Photographer: Kentaro Takahashi/Bloomberg via Getty Imagesbeat analysts' expectations on Thursday, both on a quarter-on-quarter as well as an annualized basis.
GDP rose 0.8% quarter on quarter compared to Reuters poll estimates of a 0.5% rise. This was also a reversal from the revised 0.6% fall seen in the first quarter.On a year-on-year basis, however, the country's GDP fell for a second straight quarter, down 0.8% after have declined 0.9% in the first quarter.
Following the GDP data release, the benchmark Nikkei 225 rose 0.16%, while the broad-based Topix climbed 0.44%.This is breaking news. Please check back for updates.
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