🇯🇵Japanese capital expenditure fell 1.2% quarter over quarter during April–June, while private consumption remained stagnant.

Japanese capital expenditure declined 1.2% quarter over quarter in April–June. The poll had expected capital expenditure to increase 0.4%.

Private consumption was unchanged from the preceding quarter, missing the poll forecast for 0.5% growth. The source did not provide a sector-level breakdown of either capital expenditure or consumption.

The weakness corresponded with domestic demand subtracting 0.2 percentage point from GDP growth. By comparison, external demand added 0.5 percentage point, above the 0.3-percentage-point poll estimate.

These components accompanied overall real GDP growth of 0.3% quarter over quarter and 1.1% on an annualized basis. Both headline growth measures were below their respective forecasts of 0.5% and 2.0%.