MNI DATA BRIEF: Japan Q2 GDP Revised Higher On Capex

Japan's economy expanded at a faster rate than previously estimated in Q2, as the contribution from capital investment was revised up, second preliminary data released by the Cabinet Office on Wednesday showed.

The economy grew 0.5% q/q, or an annualized +1.9%, compared with the first estimates of +0.3% q/q and an annualized +1.3%, see: MNI DATA PREVIEW: Japan Q2 GDP Seen Revised Up From Initial.

In the revised data, capital investment rose 2.3% q/q, revised up from the 1.7% gain in the preliminary release. The positive contribution from capital investment was revised to 0.4 percentage point from 0.3 pp.

Private consumption, which accounts for about 60% of Japan's GDP, was revised at +0.9% q/q from +0.8% q/q, pushing overall GDP higher by +0.5 pp. The contribution of net exports was unrevised at -0.3pp.

Private-sector inventories to total domestic output contributed a revised -0.3pp from -0.2 pp, and the GDP contribution of public investment was unrevised at -0.1 pp.