Japan's second quarter GDP is updated down on smaller capex profits

In the second quarter the Japanese economy ascended at a slower pace than initially assessed, on supposed downward revisions in capital spending surge, as a Reuters survey disclosed on Wednesday.

The world's number three economy is observed expanding at an annualized tempo of 2.9% in April-June, as the survey of 17 experts discovered that would be a considerable downward revision from the 4% surge observed in the preliminary data.

It would translate into 0.7% ascend from the previous quarter, updated down from an initial outcome of 1%, as the survey demonstrated.

Market participants expect the Japanese economy to keep reviving in July-September and even after.

Capital expenditure, a key component of GDP is supposed to have ascended 0.5% over the quarter, which is much slower compared to the 2.4% growth demonstrated in the preliminary data.

Japanese companies actually curbed their tempo of investment in plant as well as equipment in April-June, hinting the government might update down its initially upbeat estimate for economic surge in the second quarter.

Similar

13.04.2021 12:00 BTC hit new record as first crypto exchange goes public!

Coinbase Global Inc., the leading cryptocurrency exchange in the US, will go public on the Nasdaq index on April 14!

13.04.2021 11:20 Markets ahead of US inflation data

Today traders await the US inflation data to be out at 15:30 MT. Jump in to get fresh trade ideas for today!

12.04.2021 10:40 Will US inflation push USD further up?

The American inflation rate is announced on Tuesday at 15:30 MT. It’s an important event for traders as it will impact hugely currency pairs with the USD.