Japanese economic output expanded more than initially thought in the second quarter, but the revision was too small to reclaim the title of world’s second-largest economy from China.
The new data showed that capital spending contributed more to growth than preliminary estimates showed.
The upward revision still shows that the economic recovery has been slowing and remains almost completely reliant on exports, as consumer spending contributed nothing to growth. The contribution from capital spending doubled to 0.2 percentage points from the previous quarter.
Tokyo remains keen to prod consumer spending and Naoto Kan, prime minister, on Friday announced details of a Y920bn ($11bn) stimulus package. Almost half the figure will go toward sales incentives for appliances and housing.
Friday, September 10, 2010
Japanese growth less sluggish
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