Japan revises down Q2 GDP growth figure over preliminary estimate

10 Sep '24

1 min read

Japan revises down Q2 GDP growth figure over preliminary estimate

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Japan's GDP grew by an annualised 2.9 per cent in Q2 2024 from the previous three months, revised data released by the cabinet office show.
The preliminary forecast was a 3.1-per cent rise.
The slightly slower pace is the result of downward revisions in corporate and household spending.
The capital expenditure component of GDP rose by 0.8 per cent in Q2.

Japan’s gross domestic product (GDP) expanded by an annualised 2.9 per cent in the second quarter (Q2) this year from the previous three months, according to revised data released by the cabinet office recently.

The forecast in the preliminary estimate was a 3.1-per cent rise.

The revised figure implies a quarter-on-quarter expansion of 0.7 per cent in price-adjusted terms, compared with a 0.8-per cent rise issued last month.

The slightly slower pace is the result of downward revisions in corporate and household spending, domestic media outlets reported.

The capital expenditure component of GDP rose by 0.8 per cent in Q2 2024, revised down from a 0.9 per cent uptick in the initial estimate.

Private consumption, accounting for more than half of the country’s economy, rose by 0.9 per cent compared to the preliminary reading of 1-per cent growth.

Fibre2Fashion News Desk (DS)

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