Japan's Q2 GDP growth revised down slightly on consumption, capex

The revised figure translates into a quarter-on-quarter expansion of 0.7% in price-adjusted terms, compared with a 0.8% rise issued last month.

Japan's economy expanded in April-June at a slightly slower pace than initially reported, largely due to downward revisions in corporate and personal spending, government data showed on Monday.

Japan's GDP expanded by an annualised 2.9% in the second quarter from the previous three months, the Cabinet Office's revised data showed, versus economists' median forecast for a 3.2% growth and a 3.1% rise in the preliminary estimate.

The revised figure translates into a quarter-on-quarter expansion of 0.7% in price-adjusted terms, compared with a 0.8% rise issued last month.

Analysts expect the Japanese economy will continue to improve gradually supported by positive trends in wages and personal and corporate spending, while risks remain from external factors such as a potential slowdown in the U.S. and Chinese economy.

The Bank of Japan in July raised its key interest rate to 0.25% from 0-0.1%, and markets are keen to gauge the timing of its next move based on consumption and other data.