Japan's recession deeper than expected
Economy contracts 1.9% in Q3, against estimated 1.6%, as corporate capital spending falls faster than expected
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.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Laid-back vibe, stunning beaches, rich cuisine and low cost of living lure more expat retirees to Malaysia
Vietnam tycoon appeals against US$27 billion fraud death sentence
US announces new restrictions on firearm exports
Central banks will probably only cut half as much as they hiked
US consumer sentiment falls as inflation expectations climb
HSBC wins £1.3 billion suit over Disney film finance scandal