Japan’s Gross Domestic Product (GDP) registered an expansion of 1.2% in the second quarter of the year, three tenths less than initially reported, and grew 4.8% in an interannual rate, below the 6% reported to mid-August, according to data published this Friday by the Cabinet Office of the Japanese Government.

The reduction in quarterly GDP growth from 1.5% to 1.2% in the second quarter of the year is due to a greater drop in domestic demand compared to previously estimated, from -0.3% to -0 .6%, as well as a somewhat more pronounced decline in private consumption and a smaller increase in public investment.

Specifically, private consumption fell by 0.6% between April and June, one tenth more than in mid-August, with a decline in household consumption of 0.7%, two tenths greater than previously estimated.

Private residential investment rose 2% in the second quarter, one tenth more than the previous figure, while non-residential investment contracted 1%, in contrast to the stagnation observed in mid-August.

With these reasons, private demand fell by 0.8% between April and June, three tenths more than previously estimated.

As for public demand, it grew two tenths less than expected, up to 0.1%, after stagnating government spending, in contrast to the quarterly advance of 0.1% initially estimated. Public investment, for its part, rose 0.2% in the second quarter, one point less than expected.

On the external demand side, exports of goods and services increased by 3.1%, one tenth less than expected, while imports fell by 4.4%, one tenth more than in mid-August. by the Japanese Government.

Despite the reduction in GDP growth in the second quarter, the Japanese economy accelerated its progress compared to the first quarter of the year, when its GDP grew by 0.7%.