Japan: First estimate of Q2 GDP lowered - Rabobank

Analysts at Rabobank note that Japan has had to revise down the first estimate of its Q2 GDP number. 

Key Quotes

“On the back of weaker investment spending in the second quarter of the year, the initial estimate of 4% annualised q-o-q growth has been lowered to ‘only’ 2.5% in the final revision. Whilst disappointing capital expenditures data for the second quarter had already suggested a downgrade of this incredibly high first estimate, the downward revision was somewhat stronger than expected by most.”