Japan revises downwards April-June growth to 0.2%

Japan on Monday said its economy grew by 0.2 percent in the April to June quarter from the previous three months, revising downwards a preliminary figure of 0.3 percent growth. On an annualised basis, the economy grew a revised 0.7 percent in the quarter, lower than a preliminary 1.4 percent rise, according to figures from the Cabinet Office. Capital spending was revised slightly downwards to a 1.4 percent increase from the previous quarter. The preliminary figure showed an expansion of 1.5 percent. Private consumption, which accounts for about 60 percent of gross domestic product, was unchanged from the initial estimate of a 0.1 percent gain.