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Japan’s gross domestic product advanced 1.0 percent on quarter in the second three months of 2017, the Cabinet Office said in Monday’s preliminary reading.

That beat forecasts for a gain of 0.6 percent following the upwardly revised 0.4 percent increase in the three months prior (originally -0.3 percent).

On a yearly basis, GDP surged 4.0 percent – again topping expectations for 2.5 percent and up from the upwardly revised 1.5 percent jump in the first quarter (originally 1.0 percent).

Nominal GDP jumped 1.1 percent on quarter, beating forecasts for an increase of 0.7 percent following the 0.3 percent decline in the previous three months.

The GDP deflator was down 0.4 percent on year, beating expectations for a fall of 0.5 percent after sliding 0.8 percent in Q1.

Private consumption added 0.9 percent on quarter, beating forecasts for 0.5 percent after rising 0.4 percent in the previous three months.

Business spending spiked 2.4 percent on quarter, topping forecasts for 1.2 percent after adding 0.9 percent in the three months prior.

The Japanese economy has now expanded in six straight quarters, the first such streak in more than three years.

The material has been provided by InstaForex Company –

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