TOKYO — Japan's economy grew at a slightly slower pace than initially reported in the second quarter, hurt by downward revisions in corporate and household spending that point to a bumpier second half for consumption and the central bank's rate-hike plans.
TOKYO — Japan's economy grew at a slightly slower pace than initially reported in the second quarter, hurt by downward revisions in corporate and household spending that point to a bumpier second half for consumption and the central bank's rate-hike plans.The Bank of Japan is keen to see consistent improvement in domestic demand as it focuses on exiting its decade-long monetary stimulus program and raising interest rates further in the coming months.
The economy may show signs of losing momentum in the current quarter, Tanahashi of Nomura securities said, citing weaker-than-expected July household spending data released last week.'The July household spending data was disappointing, to say the least, and the wages bump in June and July were anchored by summer bonuses than by an increase in basic salaries,' he said.
Q2 GDP Growth Revised Downward
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