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Japan first quarter GDP seen revised up on increased capital expenditure

Staff Writer | June 2, 2017
Japan's economy was expected to have expanded more quickly in the first quarter than initially estimated, buoyed by gains in corporate capital spending, a Reuters poll showed on Friday.
Japan first quarter GDP
Asia   The poll found capital spending was seen to rise 0.5 percent
Economic growth was seen at an annualized 2.4 percent in the first quarter, revised up from a preliminary estimate of 2.2 percent, the median forecast of 18 analysts showed.

That translates into 0.6 percent growth from the previous quarter, slightly up from the 0.5 percent gain seen in preliminary data.

The poll found capital spending was seen to rise 0.5 percent in the first quarter, up from a preliminary estimate of 0.2 percent.

The revised data is expected to affirm an export-led recovery in Japan helped by a pickup in the global economy, although households remain cautious over spending, given sluggish wage growth.


 

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