TOKYO, Sept. 8 — Japan's economy grew at an annualised real 4.8 per cent in the April-June quarter, revised down from 6.0 per cent reported earlier, due to weak capital spending, the Cabinet Office said Friday.
Xinhua reported that the real gross domestic product (GDP), the total value of goods and services produced in Japan adjusted for inflation, increased 1.2 per cent from the previous quarter, compared with the preliminary reading of 1.5 per cent.
Accounting for more than half of Japan's total GDP, private consumption in the recording period fell 0.6 per cent, revised downward from the 0.5 per cent drop reported last month, the latest data showed.
Capital investment declined 1.0 per cent, compared with a preliminary flat reading, the data showed, casting doubt on Japan's central bank's view that robust corporate spending will underpin the country's post-pandemic economy.
— Bernama-Xinhua
