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Japanese economy fares better than expected in Q2, but exports dip

The Japanese economy rose 0.4% after seasonal adjustments, higher than market expectations of a 0.2% growth, but slowing from the upwardly revised 0.7% growth in the first quarter.

This marked the third straight quarterly growth in Japan's GDP, preliminary official data showed.

Exports fell 0.1% on a quarterly basis in the three months ending June, while imports climbed 1.6%. Household consumption grew 0.6%, while private non-residential investment grew 1.5%, up from a 0.4% increase in the previous quarter.

The economy climbed 1.8% on a seasonally adjusted annualized basis in the second quarter, down from the upwardly revised first-quarter growth of 2.2%.