Japan second-quarter GDP grows 1.1% on an annualized basis, missing expectations - CNBC
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- Japan's second-quarter GDP grew 1.1% annualized, missing analyst expectations according to CNBC
- Weaker consumer spending and investment were cited by Reuters as the key drivers of the underperformance, a factor the WSJ flagged could vex the Bank of Japan
Why it matters: The Bank of Japan now faces a tricky backdrop: headline growth printed positive at 1.1% annualized, but the underlying spending and investment components were weak enough to miss forecasts, potentially complicating the BOJ's policy normalization calculus.
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