TOKYO (REUTERS) - Japan's economy grew at a slower pace than initially estimated in the second quarter on the back of softer capital spending, signalling strains on the economy from weaker global growth and the US-China trade war.. Read more at straitstimes.com.
TOKYO - Japan's economy grew at a slower pace than initially estimated in the second quarter on the back of softer capital spending, signalling strains on the economy from weaker global growth and the US-China trade war.
The economy grew an annualised 1.3 per cent in April-June, weaker than the preliminary reading for 1.8 per cent annualised growth, Cabinet Office data showed on Monday .The annualised growth rate translates into quarter-on-quarter expansion of 0.3 per cent from January-March, compared with a preliminary reading for a 0.4 per cent gain.
Private consumption, which accounts for some 60 per cent of gross domestic product, advanced 0.6 per cent from the previous three months, matching the preliminary reading. The outlook for the world's third-largest economy remains clouded as risks from declining manufacturing overseas and at home hit exports hard.
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