Economy
Japan’s economy contracted more than initially estimated in Q3
GDP fell 2.9% at annualized pace in July-September, revised data shows
Tuba Onğun |
08.12.2023 - Update : 10.12.2023
ANKARA
Japan's economy contracted faster than initially estimated in the third quarter, according to revised Cabinet Office data released on Friday.
Japan's gross domestic product (GDP) fell 2.9% year-on-year in the three months through September, the deepest contraction since the second quarter of 2020.
The figure was revised from a preliminary reading of a 2.1% decline after a downwardly revised 3.6% growth in the second quarter.
On a quarterly basis, the world's third-largest economy shrank 0.7% in July-September, down from a flash reading of 0.4%, according to the Cabinet Office figures.
