Japan’s economy has surged 1% on an annualized basis

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Japan’s GDP climbed 0.3% in the April–June quarter, resisting recession pressures despite new U.S. export duties. At an annualized pace, the country’s economy grew 1% in the quarter, exceeding expectations of a 0.4% rise. The yen also appreciated 0.1% to trade at 147.6 against the dollar. Considerably, the trade deficit also contracted in Q2 compared to the first quarter. In Q1, the country’s economy only surged 0.1%, translating to a modest 0.6% annualized gain. Japan’s analysts anticipate inte...