Japan Revises Up Q1 GDP

13 June 2007

TOKYO: Japan's resurgent economy grew at an annualized rate of 3.3% in the first quarter of 2007 - an upward revision from 2.4% in a preliminary report released in May - following stronger-than-estimated business investment.

The government's Cabinet Office said business investment rose 0.3% on a quarter-on-quarter basis, markedly better than the preliminary figure of -0.9%.

Consumer spending, which accounts for more than half of Japanese GDP, was up 0.8% from the previous quarter, 0.1% below the preliminary reading of 0.9%.

Data sourced from Asahi Shimbun Online; additional content by WARC staff