skip to main content

Japan's second quarter growth revised up

Japan, the world's third-biggest economy grew 0.7% quarter-on-quarter, in the three months from April to June
Japan, the world's third-biggest economy grew 0.7% quarter-on-quarter, in the three months from April to June

Japan's economy grew faster than initially thought in the three months from April to June thanks to strong corporate investment, official figures showed today. 

The world's third-biggest economy grew 0.7% quarter-on-quarter, up from the preliminary figure of 0.5%, the cabinet office said.

The latest figure - an annualised 3% - was in line with market expectations, confirming that Japan has bounced back to growth following its first contraction in two years. 

The data represented a quick turnaround after a series of eight consecutive quarters of growth ended in the first quarter, interrupting a winning streak not seen since the heady days of Japan's "miracle" boom of the 1980s.

But analysts have warned US-led trade wars could be a major risk factor for an economy still struggling to win a long battle against deflation.

The upward revision was chiefly due to stronger-than-previously-estimated corporate capital investment, Tokyo said.