Japan Economy Slides: Q3 GDP Revised Down to 2.9% Contraction

Japan Economy Slides: Q3 GDP Revised Down to 2.9% Contraction

Japan’s economy faced a more significant setback than initially estimated, contracting at an annualized rate of 2.9% in July-September compared to the previous quarter, according to government data released on Friday. This revision is worse than the initial estimate, which indicated a 2.1% decline in GDP.

The updated figure for gross domestic product (GDP), provided by the Cabinet Office, falls below economists’ expectations, with a median forecast of a 2.0% decline according to a Reuters poll.

Looking at the quarter-on-quarter performance, GDP saw a contraction of 0.7%, surpassing the initial reading of a 0.5% drop. This figure also deviates from the median forecast, which anticipated a 0.5% fall.

The data suggests a more challenging economic situation than previously thought, indicating that the Japan economy slides more sharply than anticipated in the given period.

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Ahmed Hassan

Ahmed Hassan, a distinguished Ph.D. holder in Political Science from Stanford University, is your go-to expert for in-depth political analysis. His well-researched articles provide valuable insights into the complex world of politics. Ahmed's commitment to balanced reporting and informed commentary ensures you're always up-to-date with the latest developments in the political landscape.

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