Dow Jones Newswires: Japan’s third-quarter GDP contracts at slower pace than initially estimated

by | Dec 7, 2022 | Stock Market

TOKYO — Japan’s economy contracted at a slightly slower pace than initially estimated in the third quarter, revised government data showed Thursday. The world’s third-largest economy after the U.S. and China shrank 0.8% on an annualized basis, compared with 1.2% contraction in the preliminary estimate released in mid-November.

The economy contracted by a revised 0.2% in the July-September period from the prior quarter. Meanwhile, the revised data showed private consumption rose 0.1% from the previous quarter, lower than the 0.3% increase in the preliminary data. Capital expenditure increased 1.5%, unchanged from the preliminary result.

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