Japan's Revised Q2 GDP Growth Boosts BOJ Rate-Hike Outlook

Japan's second-quarter GDP growth has been revised upward to an annualized 1.4%, according to recent data from the country's Cabinet Office.

This figure is 0.3 percentage points higher than the initial estimate of 1.1% but falls short of market expectations, which had predicted a 1.8% growth rate.

The upward revision in GDP growth was largely driven by improved business investment data, with capital spending revised to a 0.9% decline from the previous quarter, compared to an initially reported 1.2% drop.

Japanese corporate profits also hit a record high last quarter, supported by global demand for artificial intelligence and aided by higher prices.