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| Version 1 | Version 2 |
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| Japan's economic growth data revised higher | |
| (about 1 hour later) | |
| Japan has revised up its growth data for the April to June quarter, adding to hopes of an economic recovery. | Japan has revised up its growth data for the April to June quarter, adding to hopes of an economic recovery. |
| The economy expanded 0.9% during the period, compared to the previous three months. That translates into an annualised growth of 3.8%. | The economy expanded 0.9% during the period, compared to the previous three months. That translates into an annualised growth of 3.8%. |
| The initial estimate of quarter-on-quarter growth was 0.6%. | The initial estimate of quarter-on-quarter growth was 0.6%. |
| Japan has taken aggressive measures in recent months to spur growth in the world's third-biggest economy, after years of stagnation. | Japan has taken aggressive measures in recent months to spur growth in the world's third-biggest economy, after years of stagnation. |
| "The moves by Japanese policymakers have fuelled optimism of a recovery, which has seen companies start to invest more," Martin Schulz of Fujitsu Research Institute told the BBC. | "The moves by Japanese policymakers have fuelled optimism of a recovery, which has seen companies start to invest more," Martin Schulz of Fujitsu Research Institute told the BBC. |
| "That is trickling down into the labour market and the real economy. The affect of that is now starting to show in the numbers," he explained. | "That is trickling down into the labour market and the real economy. The affect of that is now starting to show in the numbers," he explained. |
| Sales tax | Sales tax |
| The upward revision also comes at a time when the Japanese government is considering raising the rate of sales tax - called consumption tax in Japan. | The upward revision also comes at a time when the Japanese government is considering raising the rate of sales tax - called consumption tax in Japan. |
| The rate currently stands at 5% and under government plans that could double to 10% by 2015. | The rate currently stands at 5% and under government plans that could double to 10% by 2015. |
| Policymakers have argued that the move is key to cutting Japan's high public debt, which stands at around 230% of its gross domestic product (GDP) - the highest among industrialised nations. | Policymakers have argued that the move is key to cutting Japan's high public debt, which stands at around 230% of its gross domestic product (GDP) - the highest among industrialised nations. |
| At the same time the government needs to increase its income to fund rising welfare costs as its population continues to age. | At the same time the government needs to increase its income to fund rising welfare costs as its population continues to age. |
| It is estimated that 40% of Japan's population will be of retirement age by 2060. | It is estimated that 40% of Japan's population will be of retirement age by 2060. |
| But there have been concerns that raising the tax may hurt domestic demand and derail the ongoing economic recovery. | But there have been concerns that raising the tax may hurt domestic demand and derail the ongoing economic recovery. |
| Analysts said the upgrading of growth numbers may make it easier for lawmakers to go ahead with the planned increase. | Analysts said the upgrading of growth numbers may make it easier for lawmakers to go ahead with the planned increase. |
| "Japan's economic recovery will continue due to strong personal consumption and public works spending," said Hiroaki Muto, a senior economist with Sumitomo Asset Management in Tokyo. | "Japan's economic recovery will continue due to strong personal consumption and public works spending," said Hiroaki Muto, a senior economist with Sumitomo Asset Management in Tokyo. |
| "The upward revision means that the government can raise the sales tax as scheduled." | "The upward revision means that the government can raise the sales tax as scheduled." |
| 'Perfect match' | 'Perfect match' |
| The economy got a further boost over the weekend as Tokyo won the bid to host the 2020 Olympic and Paralympic Games. | The economy got a further boost over the weekend as Tokyo won the bid to host the 2020 Olympic and Paralympic Games. |
| Japan will spend an estimated $8bn (£5bn) on refurbishing old stadiums and building new ones. | Japan will spend an estimated $8bn (£5bn) on refurbishing old stadiums and building new ones. |
| Analysts say spending and construction activity will further help boost Japan's economic recovery in the coming years. | Analysts say spending and construction activity will further help boost Japan's economic recovery in the coming years. |
| Masamichi Adachi, a senior economist at JP Morgan said that an important aspect of winning the bid is "the confidence" derived from winning the competition to host such a big tournament. | Masamichi Adachi, a senior economist at JP Morgan said that an important aspect of winning the bid is "the confidence" derived from winning the competition to host such a big tournament. |
| "It makes people feel that we have to do more. That kind of sentiment will give a boost to the economy." | "It makes people feel that we have to do more. That kind of sentiment will give a boost to the economy." |
| Japan's Nikkei 225 index jumped more than 2% on Monday, as the Olympic bid win and the upward revision to growth numbers boosted investor sentiment. | Japan's Nikkei 225 index jumped more than 2% on Monday, as the Olympic bid win and the upward revision to growth numbers boosted investor sentiment. |