Japan's Q3 GDP revised down to 3.6% annualised contraction

  • 12/8/2021
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Japan"s economy shrank 3.6% in the third quarter, worse than the initial estimate of a 3.0% contraction, revised government data showed on Wednesday, posting a decline as private spending took a hit from a resurgence in COVID-19. The revised figure for gross domestic product (GDP) released by the Cabinet Office compared with economists" median forecast for a 3.1% contraction in a Reuters poll. On a quarter-on-quarter basis GDP fell 0.9%, slightly worse than the initial reading and median forecast for a 0.8% drop. For background, please see this poll. For the full tables on the Cabinet Office"s website: https://www.esri.cao.go.jp/en/sna/sokuhou/sokuhou_top.html Reporting by Daniel Leussink Editing by Chang-Ran Kim

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