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

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

Popular

Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…

promotions you can be interested in

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera