Japan's GDP contracts in the second quarter

By IBTimes Staff Reporter | September 10 2007 4:12 PM

Japan's gross domestic product (GDP ) declined by 0.3 percent in the April-June period compared to the same period a year earlier, revised down from a preliminary estimate of 0.5 percent growth, the government said Monday.

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The decline of GDP is the first in nine months and raising concerns. Corporate capital spending, which dropped 1.2 percent in both reports, was the main driver of the latest GDP decline.

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