Japan July-Sept. GDP Growth Unlikely to Be Revised Sharply

Economy

Tokyo, Dec. 3 (Jiji Press)--Japan’s gross domestic product growth for July-September is unlikely to be revised sharply from the preliminary data, given the results of the Finance Ministry’s latest capital spending statistics, think tanks say.

Japanese nonfinancial companies’ combined capital expenditures in the second quarter of fiscal 2020 fell 10.6 pct from a year before, marking the second straight quarter of a big drop, according to the statistics released Tuesday.

The 11 think tanks on average estimate that Japan’s GDP grew at a revised annual rate of 21.7 pct from the previous quarter, almost unchanged from the 21.4 pct rise in the preliminary report announced last month.

The Cabinet Office is scheduled to release revised GDP data for July-September on Tuesday.

The average estimate on corporate capital spending is for a 3.2 pct drop on a nonannualized basis, slightly smaller than the 3.4 pct decline in the preliminary report.

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Jiji Press