Japan's Q2 GDP likely revised up on robust capex, outlook murky: Reuters poll

TOKYO : Japan's economy likely expanded more than initially estimated in April-June thanks to solid business spending, a Reuters poll showed, but growth prospects in the current quarter and beyond may not be strong.

The growth figure would be higher than a preliminary reading of expansion at a 2.2 per cent annualised rate. But another virus outbreak in Japan since July, together with the relentless raw material inflation and a global economic slowdown, darken Japan's outlook for the second half of this year. "Downward pressure on Japan's economy is inevitable to some extent," said Yoshimasa Maruyama, chief market economist at SMBC Nikko Securities.

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