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Japan GDP Growth Revised Down on Softer Capital Expenditure

  • Spending by companies was far lower than the initial reading
  • The economy continues healthy expansion despite the revision
Bloomberg business news

Japan's 2Q GDP Growth Revised Down

Updated on

Japan’s economy grew less than the government’s preliminary estimate in the second quarter, weighed down by a revision in capital expenditure by companies.

A decline in private capital expenditure was the largest factor in the revision to Japan’s second-quarter growth. Ministry of Finance data, which were used in the figures released Friday, had foreshadowed that business investment would prove much weaker than previously thought. Still, Japan has maintained a sixth consecutive quarter of growth, the longest run of economic expansion since 2006, and it appears on course to continue this trend in the current.