Japan's economy slows down more than expected. In the second quarter of this year, Japan's Gross Domestic Product expanded at an annualized rate of 2,6%, compared with +3,8% (revised downwards from the original estimate of +4,1%) in first quarter 2013.
Compared to the previous quarter, growth in the April-June period was 0,6%. Private consumption rose 0,8% (beyond analysts' forecasts), but corporate capital expenditure unexpectedly fell 0,1%. External demand added 0,2 percentage points to growth. At this point, the big question that awaits Prime Minister Shinzo Abe on his next return from summer holidays becomes more complicated: whether or not to give the definitive green light to the expected increase in the consumption tax (from 5 to 8% from 10 April and to 2015% since autumn XNUMX).
