MNI BRIEF: Japan Q3 GDP To Be Slightly Revised Down
MNI (TOKYO) - Japan's Q3 GDP likely expanded slightly lower than the pace initially estimated due to weaker public investment, economists predicted in the wake of a key government survey.
The median forecast by seven economists for revised Q3 GDP is 0.2% q/q, or an annualised 0.7%, compared with the preliminary estimate of +0.2% q/q, or an annualised +0.9%.
The economists expected capital investment to be revised to 0.1% q/q from initial estimate of -0.2% following the government’s data, which showed capex excluding software rose 0.8% q/q in Q3, down from +1.5% in Q2.
The Cabinet Office will release revised (second preliminary) GDP data for Q2 at 0850 JST on Monday, Dec 9.
Private consumption is forecast by the economists to be unrevised at 0.9% on quarter.
Economists expected public investment to be revised down to -1.0% q/q in Q3 from initial estimate of -0.9%.
The contribution of private-sector inventories to the total domestic output is forecast to be revised to 0.0 percent point from 0.1 pp.
Net exports of goods and services are expected to have made a negative 0.4 percentage point contribution to the total domestic output, unchanged from the preliminary estimate.