TOKYO, Sept 8, 2023 (BSS/AFP) - Japanese growth in the three months to June was revised down Friday to 1.2 percent on weak domestic demand and corporate investment, official data showed.

The preliminary estimate of 1.5 percent from August 15 had smashed estimates and been the fastest rate since the fourth quarter of 2020 in the world's third-biggest economy.

The new revised figure of 1.2 percent also came below the market expectation of 1.4 percent, as households and businesses face inflation and soaring energy costs.

Domestic demand fell 0.6 percent, rather than a fall of 0.3 percent seen earlier, the Cabinet Office said.

Capital investment by businesses dropped 1.0 percent, although it was earlier thought to be unchanged from the previous quarter.