Japan preliminary GDP rose more than expected in Q2

Market news

10 August 2018

Japan preliminary GDP rose more than expected in Q2

Japan's gross domestic product gained a seasonally adjusted 0.5 percent on quarter in the second quarter of 2018, according to rttnews.

That exceeded expectations for an increase of 0.3 percent following the 0.2 percent loss in the three months prior.

On an annualized basis, GDP was up 1.9 percent - again topping expectations for 1.4 percent following the 0.6 percent contraction in the previous three months.

The GDP deflator was up 0.1 percent on year, beating forecasts for a fall of 0.2 percent and down from 0.5 percent in the first quarter.

As the Turkish lira falls, the European Central Bank has become concerned about the exposure of banks such as BBVA, BNP Paribas and UniCredit to Turkey, the Financial Times reports, citing unnamed sources

There is nothing in the today's policy/forecast report from the Reserve Bank of Australia to suggest it's getting closer to raising interest rates - WSJ

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