Japan's economy continues to grow for the fifth consecutive quarter

Japan's economy grew at a faster pace than initially estimated in the second quarter of this year, as domestic demand strengthened despite the impact of tariffs imposed by the administration of US President Donald Trump.

Official data released Monday showed that real gross domestic product (GDP) grew 2.2% year-on-year in the April-June period, compared to a preliminary estimate of 1.0%, while the economy expanded by about 0.5% quarter-on-quarter.

Private consumption rose 0.4% quarter-on-quarter, compared to a preliminary estimate of 0.2%. Capital expenditure growth was revised down to 0.6% from a preliminary estimate of 1.3%.

Despite the United States and Japan reaching a trade agreement that reduces US tariffs on Japanese imports, including cars, to 15%, tariffs remain higher than before, which could negatively impact the Japanese economy