Japan’s economy posted its third straight quarterly expansion, provisional government data showed Tuesday, as robust export growth contributed to an annualized 6% expansion in the second quarter, handily beating market expectations.
Economist surveyed by Reuters had expected the world’s third-largest economy to post 3.1% growth in the April-June quarter. The impressive gross domestic product data translated to a more modest quarterly expansion of 1.5%, topping expectations for 0.8% growth.
The benchmark Nikkei 225 index extended gains slightly to trade up nearly 1%, while the Japanese yen pared losses against the U.S. dollar and Japanese government bonds across the various tenures were broadly unchanged.
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