Japan: GDP steady, inflation near BoJ target – ING
ING highlights that market consensus sees Japan’s preliminary Q2 Gross Domestic Product (GDP) holding at 0.5% quarter-on-quarter, with Private Consumption remaining the main growth driver.
ING reports that Japan's preliminary Q2 GDP growth is expected to remain steady at 0.5% quarter-on-quarter, with private consumption continuing to drive the economy. The headline and core Consumer Price Index (CPI) are anticipated to be 2.0% and 1.8% year-on-year, respectively, on August 21. If these figures materialize, Japan's headline inflation would reach the Bank of Japan's 2% target for the first time in recent months, primarily due to sustained import price pressures.
Market consensus anticipates a modest uptick in both headline and core CPI to 2.0% and 1.8% year-on-year, respectively.
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