TOKYO (Reuters) – Japan’s economy contracted at an annualised 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.
(Reporting by Yoshifumi Takemoto; Editing by Chang-Ran Kim)
