Japan Q3 GDP revised down to 2.9% annualised contraction
GDP shrank 0.7 per cent, compared with the initial 0.5 per cent drop reading and a median forecast for a 0.5 per cent fall.
![Japan Q3 GDP revised down to 2.9% annualised contraction](https://cdn.zeebiz.com/sites/default/files/2023/12/08/271895-japan-inflation-and-economy.jpg?im=FitAndFill=(1200,900))
Japan's economy contracted at an annualised clip of 2.9 per cent in July-September from the previous quarter, worse than the initial estimate of a 2.1 per cent drop, government data showed on Friday.
The revised figure for gross domestic product (GDP) released by the Cabinet Office compared with economists' median forecast for a 2.0 per cent decline in a Reuters poll.
On a quarter-on-quarter basis, GDP shrank 0.7 per cent, compared with the initial 0.5 per cent drop reading and a median forecast for a 0.5 per cent fall.
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