Japan's April-June GDP growth revised down to 1.3 pct

Source: Xinhua| 2019-09-09 09:23:22|Editor: Xiaoxia
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TOKYO, Sept. 9 (Xinhua) -- Japan's economic growth was downwardly revised from an initial annualized real 1.8 percent in the April-June quarter to 1.3 percent in the period, the government said in a report on Monday.

According to the Cabinet Office, its assessment remains, however, that the economy is recovering at a moderate pace.

The office said the growth in real GDP equates to a 0.3 percent increase from the previous quarter.

From an initial reading of 1.5 percent, capital expenditure was downwardly revised to just 0.2 percent, while private consumption, which accounts for more than half of Japan's economy, was left unchanged from the previous quarter at 0.6 percent, the Cabinet Office said.

Public investment, meanwhile, was upgraded from 1.0 percent to 1.8 percent, the government said.

Not adjusted for inflation, nominal GDP grew an annualized 1.1 percent, down from a 1.7-percent expansion, the Cabinet Office also said.

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