Business News Asia
According to government data released on Monday, the Japanese economy grew at an annual rate of 2.2% from April to June. This is the third consecutive quarter of growth in private consumption.
The increase in gross domestic product (GDP) was slower than the market forecast of 2.5%, corresponding to quarterly growth of 0.5%, while market forecasts were for 0.6%.
Personal consumption data rose 1.1% quarter-over-quarter in April-June, compared with the average market forecast of 1.3%.