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MNI BRIEF: Japan's Q3 GDP Contracts More Than Expected

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--Japan Q2 Real GDP Revised to +0.4% Q/Q, to +1.5% Annualized

MNI (Tokyo)
TOKYO (MNI)

Japan's economy posted the first contraction in two quarters in the July-September period, weighed down by weak private consumption and capital investment, preliminary GDP data released by the Cabinet Office Monday showed.

Third quarter GDP fell 0.8% q/q, or an annualised -3.0% following a revised +0.4% q/q, or an annualised revised +1.5% for the second quarter. The Q3 contraction was weaker the MNI median forecast that pointed to a drop of 0.3% q/q, or an annualised -1.0%.

Private consumption, which accounts for about 60% of Japan's GDP, fell 1.1% q/q. Business investment fell 3.8% q/q.

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com

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