MNI: Japan's Q3 GDP Seen Revised Down On Weaker Capex-Survey

Japan's economy contracted at a faster pace than initially estimated in the July-September quarter as capital investment appeared to be lower than initially expected in the wake of a key government survey, leading economist surveyed by MNI to downward revise ahead of second preliminary data.

The median forecast by six economists for revised Q3 GDP is -0.8% on quarter, or an annualized -3.3%, compared with the preliminary estimate of -0.8% q/q, or an annualized -3.0%. The forecasts ranged from -0.4% to -0.9% q/q, and -1.5% to -3.5% annualised. The Cabinet Office will release revised (second preliminary) GDP data for the July-September quarter at 0850 JST on Wednesday, Dec. 8 (2350 GMT on Tuesday, Dec. 7).

See: MNI: Japan Revised GDP For July-September-Survey Table.

Going forward, economists expect Japan's economy in the fourth quarter to rebound as the government lifted a state of emergency and supply restrictions caused by the shortage of semiconductors and of auto parts is easing, see: MNI INSIGHT: BOJ Eyes Upbeat Sentiment As Important For Q4 GDP.