Japan’s economy grew at a slower pace in Q2, hitting 1.1% annualized—down from 2.1% previously—driven by modest export gains in cars and semiconductors fueled by global AI demand. Yet private consumption stalled and energy costs surged due to Middle East tensions disrupting oil flows, while a weak yen boosts exports but raises import prices. Despite these challenges, the Bank of Japan slightly raised its full-year growth outlook, and the Prime Minister vows to revive momentum, even as public trust continues to wane.
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