Japan's Q2 GDP revised up to 0.4 pct

Japan's gross domestic product (GDP) increased a revised 0.4 percent in April-June from the previous quarter, the Cabinet Office said in a report on Friday.

The revised figure matched economists' median forecast and beat the preliminary reading of a 0.1 percent increase.

The revised rate equals an annualized rate of 1.5 percent in the April-June period, up from a 0.4 percent initially reported last month.

The difference is being credited to higher corporate capital investment, however economists are predicting the economy will contract due to the yen's strength which continues to however around 15-year highs against the U.S. dollar.

Coupled with the yen's strength which is severely hampering Japan's export-led economic recovery, domestic demand and demand for Japan's goods from major export locations such as the United States and China is beginning to show signs of slowing.

Source:Xinhua