MNI BRIEF: Japan Q2 GDP Revised Up on Consumption

Japan’s economy expanded faster in April–June than initially estimated, as stronger private consumption offset weaker capital investment, second preliminary GDP data from the Cabinet Office showed Monday.

GDP rose 0.5% q/q, or an annualised 2.2%, up from the first estimate of 0.3% q/q, or 1.0% annualised.

Private consumption, which makes up about 60% of GDP, was revised up to 0.4% from 0.2%, contributing 0.2 pp to growth instead of 0.1 pp.

 Capital investment increased 0.6% q/q, down from the initially reported 1.3%, with its contribution cut to 0.1 pp from 0.2 pp.

Net exports contributed 0.3 pp, unchanged from the preliminary estimate. Private inventories were revised to -0.0 pp from -0.3 pp, while public investment fell 0.6% q/q, slightly weaker than -0.5%, though its contribution remained at -0.0 pp.