TOKYO, Dec. 8 (Xinhua) — Japan’s economic system shrank at an annualized actual 2.9 p.c within the July-September quarter, revised from 2.1 p.c reported earlier, as a consequence of weak consumption, the Cabinet Office mentioned Friday.
Real gross home product (GDP), the entire worth of products and companies produced in Japan adjusted for inflation, decreased 0.7 p.c from the earlier quarter, in contrast with the preliminary studying of a 0.5 p.c decline.
This marked the primary damaging progress in 4 quarters, in line with the Cabinet Office.
Accounting for greater than half of Japan’s whole GDP, personal consumption within the recording interval fell 0.2 p.c, revised downward from the 0.04 p.c drop reported final month, the most recent knowledge confirmed.
According to the information, capital funding shrank 0.4 p.c, revised up from a preliminary drop of 0.6 p.c.
Analysts right here attributed the worse-than-expected figures to worsening declines in family consumption expenditure and stock changes.
The Q3 outcomes had been additional confirmed as varied knowledge and shopper sentiments relating to family consumption had already indicated a sluggish development, famous Sayuri Shirai, professor at Keio University.