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Japan second-quarter GDP expands annualised 1.9 percent - government

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By Reuters
Japan second-quarter GDP expands annualised 1.9 percent - government
FILE PHOTO A worker is seen among newly manufactured cars awaiting export at port in Yokohama, Japan, November 15, 2017. REUTERS/Toru Hanai/File Photo   -   Copyright  Toru Hanai(Reuters)

TOKYO (Reuters) – Japan’s economy expanded at an annualised rate of 1.9 percent in April-June, bouncing back from a contraction in the previous quarter, government data showed on Friday, in a sign its recovery momentum remained intact.

The preliminary reading for second-quarter gross domestic product (GDP) compared with a median estimate for a 1.4 percent annualised increase in a Reuters poll of economists.

It followed a revised 0.9 percent annualised rate of contraction in the first quarter, the Cabinet Office data showed.

On a quarter-on-quarter basis, GDP grew 0.5 percent, versus the median estimate for a 0.3 percent increase.

(Reporting by Leika Kihara and Stanley White; Editing by Chang-Ran Kim)