Japan revises July-September GDP contraction to 2.3% from 1.8%

From channelnewsasia.com

Japan's economy contracted faster than initially reported in July-September from the previous three-month period, revised government data showed on Monday. The revised figure for gross domestic product from the Cabinet Office showed the economy shrank an annualised 2.3 per cent, the fastest contraction since the third quarter of 2023. That compared with economists' median forecast for a 2.0 per cent contraction and an initial reading of 1.8 per cent. On a quarter-on-quarter basis, GDP contracted 0.6 per cent, compared with the median forecast of 0.5 per cent and initial estimate of 0.4 per cent. Still, economists ... (full story)