RTTNews reports that according to the report from the Cabinet Office, Japan's gross domestic product expanded an annualized 1.3 percent on year in the second quarter of 2021. That beat forecasts for an increase of 0.7 percent following the 3.9 percent contraction in the first quarter.

On a seasonally adjusted quarterly basis, gross domestic product rose 0.3 percent - again exceeding expectations for 0.2 percent following the 1.0 percent drop in the three months prior.

External demand was down 0.3 percent on quarter versus forecasts for a fall of 0.1 percent after slipping 0.2 percent in Q1.

Private consumption climbed 0.8 percent on quarter, beating forecasts for a loss of 0.1 percent after sinking 1.5 percent in the previous three months.