April-June GDP data expected to be revised down

September 2, 2017

TOKYO- Japan's gross domestic product data for April-June may be substantially revised down from preliminary numbers, according to estimates by 13 private think tanks released on Friday.

The think tanks on average expect price-adjusted real GDP to grow 2.7 percent from the preceding quarter on an annualized basis, against the 4 percent growth shown in the preliminary data made public by the Cabinet Office last month.

The government agency is set to release revised GDP data on Sept. 8.

The think tanks lowered their GDP forecasts after Finance Ministry data released on Friday showed that non-financial companies' capital spending declined 2.8 percent in nominal terms in April-June from the previous quarter, marking their first drop in three quarters. Jiji Press