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Japan's second quarter economic surge is updated down from stellar first outcome
In the second quarter Japan's economic surge turned to be much slower than observed in a stellar preliminary outcome, as government data disclosed on Friday, ruining hopes for a highly anticipated pick-up in domestic demand.
Apparently, the downgrade was highly anticipated after data used to update GDP figures disclosed capital spending surge in April-June tumbled from the previous quarter.
While the dismal data might weaken confidence in the government's economic policy as well as the business outlook, experts still expect the Japanese economy to sustain a firm revival as sturdy global demand backs exports, while a tightening job market strengthens the prospects for higher wages.
In April-June, the country’s economy expanded at an annualized rate of 2.5%, which is much less than an initial evaluation of 4% surge, as Cabinet Office data unveiled.
Japan's GDP data actually tends to face huge revisions due to the way the Cabinet Office evaluates consumption, capital expenditure and inventory in the preliminary outcome.
In November, UK factory orders managed to recover, although previously in October they sagged steeply…
What are the main topics, which drive the key currency pairs today? Is there a chance for oil to recover? Find out from the news!
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…