MNI BRIEF: Japan Q3 GDP Revised Lower On Spending

Japan's economy contracted more than initially reported in Q3, as the contribution from private consumption was revised lower, second preliminary data released by the Cabinet Office on Wednesday showed.

The economy contracted 0.9% q/q, or an annualised -3.6%, compared with the first preliminary estimates of -0.8% q/q and an annualized -3.0%, see: MNI: Japan's Q3 GDP Seen Revised Down On Weaker Capex-Survey.

In the revised data, capital investment fell 2.3% q/q, revised up from the 3.0% fall seen in the preliminary release. The negative contribution from capital investment was revised to -0.4 percentage point from -0.6 pp. Private consumption, which accounts for about 60% of Japan's GDP, was revised at -1.3% q/q from -1.1% q/q.