Japan's economy manages 1.1% growth rate despite headwinds

Japan's economy grew at an annualized rate of 1.1% in the April-June quarter, according to government data released on Monday. The expansion occurred despite significant economic headwinds, including declining export growth.

However, the performance fell short of market expectations, largely driven by stagnation in private consumption, which accounts for over half of Japan's economic output and failed to achieve the anticipated 0.5% increase.