Japan’s economy grew 1.3% on second quarter amid jittering trade tension


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Japan’s economy grew 1.3% on second quarter amid jittering trade tension

On Friday, the 9th of August 2019, Japan’s government had issued a statement saying that the nation’s economy grew at a pace of 1.3 percent during second quarter on a year-on-year basis, remarking the Eastern Asian nation’s third straight quarterly gains, while an analysts’ poll was expecting a growth of 0.4 percent for the quarter that ended on June 30th.

In point of fact, latest upbeat GDP growth of Japan came forth against a backdrop of its terrible trade relationship with South Korea, while its GDP growth for the third quarter would likely to be stalled amid a worsened trade relationship between Tokyo and Seoul, suggested analysts.

Concomitantly, latest escalation of Sino-US trade war would likely to weigh on the world’s third-largest economy by nominal GDP and fourth-largest by purchasing power parity (PPP), however, a free trade treaty with United States by September might brighten outlook for the export-oriented economy of Japan, analysts said following reveal of Japan’s surprise growth in GDP on Q2, 2019.

According to Friday’s (August 9th) government data, Japan’s economy grew by 1.3 percent on second quarter on a year-on-year basis, while the world’s third-largest economy had witnessed a 0.4 percent growth in its GDP on a quarter-to-quarter basis.