Cityscape view with skyscrapers and city lights at night, Tokyo, Japan. Photo: AFP

Japan’s economy expanded by an annualized 2.2% for the first quarter of 2017, a full percentage point higher than 1.2% growth in the previous quarter, reports the Financial Times. A median forecast from economists surveyed by Reuters predicted only 1.7% growth.

Quarter over Quarter numbers:

  • GDP up 0.5%
  • Domestic demand up 0.4%
  • Private consumption rose 0.4%
  • Government consumption up 0.1%
  • Exports rose 2.1%, slowing from 3.4% in Q42016
  • Barclays: “We look for real GDP growth of 2.0% q/q saar in Q2, 1.4% in Q3 and 0.8% in Q4,…In H1 FY17, we expect real growth to continue to exceed potential with private capex increasing gradually and implementation of the FY16 second supplementary budget getting fully underway”.