Plenty to cheer in the Japanese economic growth figures earlier: Japan GDP for Q2 (preliminary) 1.0% q/q (vs. expected 0.6%)

Various responses from around the place, all along similar lines:

Financial Times:

  • Japan's economy grew at the fastest pace in more than two years
  • Well up from ... the March quarter ... far above a median forecast of 2.5%
  • Domestic demand ... substantial jump
  • Private consumption ... more than double the ... pace of growth in the three months ended March
  • Private non-residential investment climbed
  • Growth in government consumption
  • Exports of goods and services fell

Reuters:

  • "The engines of consumer spending and capital expenditure both fired well in the second quarter, and that's why domestic demand was so strong," said Hidenobu Tokuda, senior economist at Mizuho Research Institute."The pace of growth may moderate slightly, but we are still in recovery mode. This is a positive development for inflation."

Bloomberg:

  • "The strength of domestic demand stands out, especially individual consumption, which was better than I had expected," said Masaki Kuwahara, senior economist at Nomura Securities in Tokyo. "Spending appetite has improved as rising stocks added to the wealth effect, although incomes haven't increased much."

(More at those links)