Japan confirms economic recession in Q2 2015

FXStreet (Bali) - Japanese Q2 GDP (final reading) came in at -0.3% QoQ vs -0.5% expected, with GDP annualized (seasonally adjusted) for Q2, final, at 1.2% YoY and -1.8% exp, 4.5% previous, while the preliminary was -1.6%.

GDP Nominal (seasonally adjusted) for Q2 came at +0.1% QoQ vs 0% exp, 2.2% prior, preliminary of 0.0%. GDP Deflator YoY for Q2, final, stood at 1.5% vs 1.6% exp 3.5% last and 1.6% preliminary.

The data confirms the slow down in the Japanese economy during Q2 2015, not boding well for Abenomics, whose policies continue to fall short of expectations, presently disturbed by global slowdown fears and a disinflationary environment.