Japan Revised July-Sept. GDP to Log Drop of 2.8 Pct

Economy

Tokyo, Dec. 2 (Jiji Press)--Japan’s revised gross domestic product for July-September, due out next week, is expected to log an annualized drop of 2.8 pct, according to the average estimate among 10 private think tanks.

The quarter-to-quarter rate of change in price-adjusted real terms would represent an upward revision from the 3.0 pct contraction reported on a preliminary basis by the Cabinet Office last month.

Many think tanks project a smaller drop in capital spending than in the preliminary report, based on the results of the quarterly corporate activity survey report released Wednesday by the Finance Ministry.

The Cabinet Office is scheduled to announce revised GDP data for the second quarter of fiscal 2021 on Wednesday.

The average estimate on corporate capital spending is for a 3.4 pct decline, better than the preliminary 3.8 pct drop.

[Copyright The Jiji Press, Ltd.]

Jiji Press