Japan GDP growth revised up to 0.4%

Japan's economy grew 0.4% in the second quarter, faster than the initial 0.3% estimate, revised Cabinet Office data showed Tuesday.

The data covered the three months to June for the world's fourth-largest economy. AFP reported that private consumption and corporate investment remained weak but were better than preliminary data had shown, while imports came in below the earlier estimate, contributing to the upward revision.

The yen has been supported this month by talk of Bank of Japan rate increases and is moving toward its strongest level of the year. US Treasury Secretary Scott Bessent told Bank of Japan governor Kazuo Ueda that he supported “Japan's decisive market and monetary steps,” AFP reported.