The government on Monday revised gross domestic product data for the April-June quarter to a real 0.7 percent quarter-to-quarter contraction from the earlier reported 0.8 percent contraction.

The shrinkage, the first in three quarters, translates into an annualized contraction of 2.9 percent, less than the earlier reported 3.2 percent contraction, the Cabinet Office said.

Real data on GDP, the total value of goods and services produced domestically, are adjusted for inflation and seasonal factors.