The GDP growth, according to these data, is due to the expansion of domestic consumption and investment in equipment. Real GDP reflects the actual increase in production in a country, excluding price fluctuations. Japan’s nominal GDP, which reflects the cost of all goods and services at current prices, grew by 7.4% year-on-year in the second quarter of the year. This means that the country’s gross domestic product will increase by that amount for the entire year if current economic conditions continue.
