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 percent, the fastest contraction since the third quarter of 2023.
That compared with economists' median forecast for a 2.0 percent contraction and an initial reading of 1.8 percent.
On a quarter-on-quarter basis, GDP contracted 0.6 percent, compared with the median forecast of 0.5 percent and initial estimate of 0.4 percent.
Still, economists viewed the revised figures as having only a marginal impact on the Bank of Japan's next interest rate decision. The BOJ is likely to raise its policy rate at its December 18-19 meeting and the government is set to tolerate the decision, Reuters.
Private consumption, which accounts for more than half of the economy, inched up a revised 0.2 percent in July-September, versus 0.1 percent in the preliminary reading.
The capital expenditure component of GDP, a barometer of private demand, fell 0.2 percent, lowered from the initial estimate of a 1.0 percent rise. Economists had estimated a 0.4 percent uptick.
External demand, or exports minus imports, knocked 0.2 percentage points off growth, unchanged from the preliminary reading. Domestic demand shaved 0.4 percentage point, compared with a 0.2 percentage point drag in the initial figure.
Reuters
