Japan’s Q3 Growth Revised Downward

Japan’s economy grew much slower than initially estimated in the third quarter of the year, figures have revealed, as business investment fell.

The Cabinet Office said the economy grew 1.3% in the three months to the end of September, compared to the same period a year ago.

However, that was sharply lower than the previous estimate of 2.2%.

The new data indicated that investment by companies in the quarter had been weaker than initially estimated.
Capital expenditure fell 0.4% in the quarter, as steel and real estate companies reduced investment.

However, consumer spending was revised up, while separate data showed improving sentiment in the services sector.

via BBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.