Japan's economy likely recovered slightly in the second quarter from a steep slump at the start of the year, a Reuters poll showed, as solid exports and capital expenditure cushioned some of the blow to consumption from the coronavirus pandemic.
But analysts expect the world's third-largest economy to lag other advanced nations emerging from the doldrums, as expanded state of emergency curbs and a resurgence in infections weigh on household spending."There won't be much of a rebound from the first quarter's big contraction. The data will show the economy continues to stagnate," said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute.
Preliminary gross domestic product data will show the economy grew an annualised 0.7% in April-June, after a 3.9% slump in the first quarter, according to analysts polled by Reuters. On a quarter-on-quarter basis, GDP likely grew 0.2%, the poll showed. Consumption shrank 0.1% as the health crisis continued to weigh on service spending, though the drop is smaller than the previous quarter's 1.5% decline, the poll showed.
"Growth in exports and output appears to be slowing," said Mari Iwashita, chief market economist at Daiwa Securities.
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