Japan’s April-June GDP growth revised down to 1.3pc

Xinhua | Published: September 09, 2019 15:33:05 | Updated: September 10, 2019 13:53:39

People walk through a shopping district in Osaka, western Japan October 22, 2017 - Reuters

Japan's economic growth was downwardly revised from an initial annualised real 1.8 per cent in the April-June quarter to 1.3 per cent in the period, the government said in a report on Monday.

According to the Cabinet Office, its assessment remains, however, that the economy is recovering at a moderate pace.

The office said the growth in real GDP equates to a 0.3 per cent increase from the previous quarter.

From an initial reading of 1.5 per cent, capital expenditure was downwardly revised to just 0.2 per cent, while private consumption, which accounts for more than half of Japan's economy, was left unchanged from the previous quarter at 0.6 per cent, the Cabinet Office said.

Public investment, meanwhile, was upgraded from 1.0 per cent to 1.8 per cent, the government said.

Not adjusted for inflation, nominal GDP grew an annualised 1.1 per cent, down from a 1.7-per cent expansion, the Cabinet Office also said.

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