Japan's economy grew strongly on the back of increased consumption.

◻️GDP growth rebounded from a decline at the beginning of the year on the back of strong consumption growth, and came in at 3.1 percent annually in the second quarter.

◼️The strong growth supported the possibility of another interest rate hike by the BOJ in the near term.

◻️GDP growth in the second quarter exceeded the median market expectation of 2.1 percent.

◼️The Japanese economy contracted by 2.3 percent in the first quarter according to revised data.

◻️GDP grew by 0.8 percent in the second quarter, exceeding expectations of a 0.5 percent increase in the first quarter.

-Forex News