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REUTERS/Kim Kyung-Hoon A man walks past a sign of Bank of Japan outside its headquarters in Tokyo, Japan, October 31, 2023.
Reuters
10:33 JST, December 8, 2023
TOKYO, Dec 8 (Reuters) – Japan’s economy contracted at an annualized clip of 2.9% in July-September from the previous quarter, worse than the initial estimate of a 2.1% drop, government data showed on Friday.
The revised figure for gross domestic product (GDP) released by the Cabinet Office compared with economists’ median forecast for a 2.0% decline in a Reuters poll.
On a quarter-on-quarter basis, GDP shrank 0.7%, compared with the initial 0.5% drop reading and a median forecast for a 0.5% fall.
