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MNI BRIEF: Japan Q3 GDP Revised Lower On Spending

(MNI) Tokyo
(MNI) TOKYO

Japan's economy contracted at a faster pace than initial estimates in Q3, down 0.7% q/q or 2.9% annualised from the first preliminary -0.5% or -2.1% annualised estimate, as authorities revised private consumption lower, second preliminary data released by the Cabinet Office showed on Friday.

The revised data showed capital investment fell 0.4% q/q, revised up from a 0.6% drop, while its negative contribution remained at -0.1 pp. Private consumption, which accounts for about 60% of Japan's GDP, was revised down to -0.2% q/q from -0.0% q/q, pushing overall GDP down 0.1 pp, widening from -0.0 pp.

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Japan's economy contracted at a faster pace than initial estimates in Q3, down 0.7% q/q or 2.9% annualised from the first preliminary -0.5% or -2.1% annualised estimate, as authorities revised private consumption lower, second preliminary data released by the Cabinet Office showed on Friday.

The revised data showed capital investment fell 0.4% q/q, revised up from a 0.6% drop, while its negative contribution remained at -0.1 pp. Private consumption, which accounts for about 60% of Japan's GDP, was revised down to -0.2% q/q from -0.0% q/q, pushing overall GDP down 0.1 pp, widening from -0.0 pp.

Keep reading...Show less