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1st LD Writethru: Japan's GDP in Q2 revised upward to 1.2 pct. fall

Xinhua, September 8, 2015 Adjust font size:

Japan's gross domestic product (GDP) in the second quarter of 2015 shrank an annualized 1.2 percent in inflation-adjusted terms, revised upward from an earlier-reported 1.6 percent decline, government data showed Tuesday.

Though the April-June contraction is better-than-expected, it still marks the first decline in three quarters, said the Cabinet Office, adding the GDP was down 0.3 percent on quarterly basis.

Private consumption, which accounts for around 60 percent of Japan's GDP, dropped 0.7 percent, slightly upgraded from the preliminary data of 0.8 percent due to stronger sales of automotives and beverages.

Corporate capital spending, which the government sees as key to shoring up the economy, shed 0.9 percent, downgraded from a 0.1 percent decrease, while housing investment increased 1.9 percent, unchanged from the initial data.

Exports fell 4.4 percent and imports contracted 2.6 percent, both unchanged from the preliminary report. Endi