TOKYO (MNI) – Japan’s real gross domestic product for the
April-June quarter was revised down to +0.2% (+0.16%) on quarter, or an
annualized +0.7%, from the initial estimate of +0.3% (+0.34%), or an
annualized +1.4%, mainly due to a downward revision to private-sector
inventories, the Cabinet Office said on Monday.

The revised Q2 GDP came in slightly weaker than the median
economist forecast in an MNI survey for +0.2% (annualized +1.0%).

Meanwhile, the Q1 GDP was revised down slightly to +1.3% q/q
(annualized +5.3%) from +1.3% (annualized +5.5%) reported earlier.

Q2 domestic demand rose 0.4% q/q, revised down from a preliminary
+0.2%. It added 0.2 percentage point to Q2 GDP, revised down from a
preliminary +0.4% point.

Meanwhile, Japan’s net exports — exports minus imports — trimmed
0.1 percentage point off the Q2 economic growth, unchanged from the
preliminary estimate.

In domestic demand, private-sector inventories lowered the Q2 GDP
by 0.2% point, revised down from a preliminary -0.0% point.

Business investment, the second largest component of GDP, rose 1.4%
q/q, revised down slightly from a preliminary +1.5% but its contribution
to the Q2 growth was unchanged at +0.2 percentage point.
** MNI Tokyo Newsroom: 81-3-6860-4820 **

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