Japan Oct.-Dec. GDP to Be Revised Down to 6.9 Pct Drop

Economy

Tokyo, March 5 (Jiji Press)--Japan is expected to revise down its real gross domestic product change in October-December last year to an annualized quarter-to-quarter drop of 6.9 pct, according to private think tanks.

The number, worse than a 6.3 pct decline in a preliminary government report published last month, is the average estimate among 10 think tanks.

The think tanks released their new GDP estimates based on fresh data, including the quarterly corporate activity survey report released Monday by the Finance Ministry.

All 10 believe that the country's corporate capital spending for the third quarter of fiscal 2019 will be revised down further.

According to the preliminary data by the Cabinet Office, the sector turned negative after two quarters of growth.

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Jiji Press