Vi e w p o i n t | 17 Aug 2026 05:16:49 ET │ 9 pages Japan Economics n Japan Economics First print of Q2 GDP: Heavily reflects impact of Middle East conflict CITI'S TAKE The first preliminary estimate of real GDP growth for Q2 came in at +0.3% QoQ and +1.1% annualized, falling short of the market consensus (+0.5% QoQ, +2.0% annualized) and decelerating from +0.5% (+1.9% annualized) in Q1. Nonetheless, this marks a third consecutive quarter of positive growth. The breakdown was broadly reflective of the impa ...

17 August 2026 | 3:48PM SGT Economics Research Thailand: Weaker consumption and public investment drag down activity in Q2 Bottom line: Thailand's economy weakened sharply in Q2, with real GDP growth slowing to 1.9% yoy, from 2.9% in Q1. Domestic demand weakened meaningfully, led by a decline in both private and public consumption. Although private investment rose strongly, the surge was broadly offset by a sharp decline in public investment. With the Q2 GDP outturn coming in slightly below our expectations ...

J P M O R G A N Asia Pacific Economic Research 17 August 2026 Thailand: A sequential economic contraction in 2Q26 ... owing to the energy price shock and an unexpected drag from public-sector spending A sequential economic contraction in 2Q26 The National Economic and Social Development Council (NESDC) reported that GDP growth moderated to 1.9%oya in 2Q26 from 2.8% in 1Q26. This is slightly above the consensus forecast of 1.8% but undershoots our forecast of 2.5%. On a sequential, seasonally adjusted (sa) b ...

16 August 2026 | 11:35PM BST Economics Research Israel: GDP Expands by +15.4%qoq annl, in Large Upside Surprise Bottom Line: Israel's GDP expanded by +15.4%qoq annl in Q2 (+3.6%qoq), following a -2.2%qoq annl contraction in Q1 (revised up from -3.3% in the flash print and -3.8% following the second release). This was a large upside surprise to consensus expectations (+8.3%qoq annl.) and our forecast (+7.1%). Israeli GDP data are relatively volatile from quarter to quarter, and this volatility has been signi ...

J P M O R G A N Japan Economic Research 17 August 2026 The Cabinet Office's first estimate of 2Q26 GDP surprised to the downside, rising 1.1%q/q saar (JPM: 1.9%, consensus: 2.0%). Growth has remained strong, exceeding the potential for the third consecutive quarter, but relative to the strong growth suggested by the monthly data, the outcome was weaker than expected. The downside surprise mainly came from domestic demand, with both private consumption and capex coming in weaker than expected. The 2Q GDP rep ...

Jenny Zheng, CFA Economist Jenny.L.Zheng@morganstanley.com +852 3963-4015 August 17, 2026 01:31 AM GMT Investor Presentation | Asia Pacific M Idea Will 3Q Weakness Trigger More Stimulus This Fall? Morgan Stanley Asia Limited+ Robin Xing Chief China Economist Robin.Xing@morganstanley.com +852 2848-6511 For analyst certification and other important disclosures, refer to the Disclosure Section, located at the end of this report. Downloaded by zouguanzhong@cramc.hk Not for redistribution without written consent ...