π Japan's GDP Growth Falls Short of Estimates
Japan's economy expanded by 1.1% on an annualized basis during the second quarter, which was less than the expected 2% growth. This figure, reported on Monday, August 17th, was down from the 2.1% recorded in the previous quarter. Strong exports were the main growth driver, though this was aided by the weak yen. Soft domestic demand and business investment acted as a drag on the overall expansion. Moving forward, the economy navigates the impact of the Iran war on energy prices. π