Daiwa Securities Sees Japan Q2 GDP Revised Up on Strong Capital Spending

According to Jin10, Daiwa Securities economist Kento Minami said Japan's second-quarter GDP growth may be revised up to 0.4% quarter on quarter, or 1.6% annualized, after Ministry of Finance data showed corporate capital spending was stronger than expected. Japan's preliminary second-quarter GDP reading was 0.3% quarter on quarter, or 1.1% annualized, and the revised GDP data will be released on September 8.