Japan's recession deeper than expected
Economy contracts 1.9% in Q3, against estimated 1.6%, as corporate capital spending falls faster than expected
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Tokyo
JAPAN's economic recession proved to be worse than expected in the third quarter of this year, according to data released on Monday showing that gross domestic product (GDP) contracted at a real annual rate of 1.9 per cent during the period, rather than the 1.6 per cent announced earlier.
Ministry of Finance data published at the beginning of December suggested that capital spending during the third quarter rose faster than expected, which led analysts to believe that third quarter GDP also would be upgraded from initial estimates, but investment in fact fell faster than reported.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
