Japan revises down Q2 GDP to annualised 2.9% growth

TOKYO (Reuters) – Japan’s economy expanded by 2.9% in the April-June period from the previous quarter, a slower pace than in the preliminary reading, government data showed on Monday.

The revised figure for gross domestic product (GDP) released by the Cabinet Office compared with economists’ median forecast for a 3.2% rise in a Reuters poll and the initial reading of a 3.1% expansion.

On a quarter-on-quarter basis, GDP grew 0.7%, compared with a median forecast and the initial estimate of a 0.8% rise.

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