Japan's Apr.-Jun. GDP revised up to 3.5%

Japanese officials have revised upward GDP for the second quarter of this year.

The Cabinet Office says the economy in the April to June period expanded in real terms from the previous quarter at an annualized rate of 3.5 percent.

A preliminary reading showed 2.2 percent growth.

A recovery in consumer spending was mainly responsible for the upward revision. Those expenditures account for more than half of Japan's GDP.

Personal spending was up 1.2 percent from the previous quarter. That is a slight improvement from the preliminary reading of 1.1 percent.

Japan lifted quasi-emergency measures against COVID-19 in March.

The latest reading for capital spending was revised upward from 1.4 percent. The new figure is 2 percent, as companies invested in digitalization.