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Japan's Cabinet Office released its final gross domestic product (GDP) data for Japan late Sunday. Japan's GDP declined by 0.4% in the second quarter, beating expectations for a 0.5% fall, after a 1.1% rise in the first quarter. The first quarter figure was revised up from a 1.0% increase.
Business spending fell 0.1% in the second quarter, while private consumption dropped 0.8%.
Exports dropped at an annual rate of 16.5% in the second quarter.
On a yearly basis, Japan's economy shrank 1.6% in the second quarter, beating forecasts of 1.9% decline, after a 3.9% rise in the first quarter.
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