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Japan GDP 'not a bad number at all'

Japan's economy expanded at a slower pace than most analysts expected in the second quarter. However, Mizuho International Director Dr Seijiro Takeshita said GDP of 2.6% was "not a bad number at all".

Japan's economy expanded at a slower pace than most analysts expected in the second quarter.

Gross domestic product grew 0.6% in the April to June period, indicating an annualised increase of 2.6%, according the latest government figures.

That is down from the 4.1% annual rate in the first three months of the year. Analysts were expecting growth of 3.6%.

Mizuho International Director Dr Seijiro Takeshita said that growth was being "back-loaded to the next quarter" and that GDP of 2.6% was "not a bad number at all".