Japan's GDP Shrinks by 2.3 Percent in Q3
The updated data from the Cabinet Office marked the sharpest quarterly contraction since the third quarter of 2023.
On a quarterly basis, real gross domestic product (GDP), adjusted for inflation, fell 0.6 percent in July-September, steeper than the preliminary 0.4 percent decline.
Private consumption, which makes up over half of the Japanese economy, saw a modest upward revision to 0.2 percent growth for the quarter, up from an earlier estimate of 0.1 percent.
Other major components also shifted. Capital expenditure, a key gauge of private sector demand, fell 0.2 percent, reversing an initial forecast of a 1.0 percent gain.
External demand, defined as exports minus imports, subtracted 0.2 percentage points from GDP, consistent with the first estimate.
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