Bangkok--22 Aug--Standard & Poor's Ratings Services
Standard & Poor's Ratings Services today published a report on Japan's 0.8% annualized real GDP growth in the second quarter of 2006. The article, titled "Japan's Second-Quarter GDP Growth Slower Than Expected" said that growth was substantially slower than the 2.7% growth in the previous quarter and the 1.7% predictions of most forecasters.
"The lower than expected result was due mainly to the negative growth of inventory (minus 0.2% contribution to the GDP growth) and government consumption (minus 4.3% annualized growth over previous quarter), which most economists had expected to be positive," explained Standard & Poor's credit analyst Takahira Ogawa. As the first estimate of Japan's GDP data tends to be subject to significant revisions over the next few months, the gap between prior forecasts and actual turnout could turn out to be narrower.
The report is available to subscribers of RatingsDirect, the real-time Web-based source for Standard & Poor's credit ratings, research, and risk analysis, at www.ratingsdirect.com . If you are not a RatingsDirect subscriber, you may purchase a copy of the report by calling (1) 212-438-9823 or sending an e-mail to [email protected] . Ratings information can also be found on Standard & Poor's public Web site at www.standardandpoors.com ; under Credit Ratings in the left navigation bar, select Find a Rating, then Credit Ratings Search. Members of the media may request a copy of this report by contacting the media representative provided.
Media Contact:
David Wargin, New York (1) 212-438-1579
[email protected]
Analyst Contacts:
Takahira Ogawa, Singapore (65) 6239-6342