Japan July-Sept. GDP Data Seen to Be Revised Up Slightly

Economy

Tokyo, Dec. 4 (Jiji Press)--Japan's revised gross domestic product data for July-September, due out Thursday, are expected show that the country's real GDP shrank at an annualized rate of 1.0 pct in the second quarter of fiscal 2022.

The figure is the average estimate among 10 private-sector think tanks. A preliminary report released last month put the annualized GDP growth rate at minus 1.2 pct.

Quarter on quarter, the 10 firms expect the July-September GDP to have contracted a revised 0.3 pct on average, unchanged from the preliminary reading.

Based on the results of the Ministry of Finance's corporate financial statements survey for July-September released on Thursday, five of the 10 think tanks predict a larger increase in capital spending than estimated in the preliminary report. But the average estimate of capital spending growth from the previous quarter among the 10 firms stood at 1.5 pct, the same as the preliminary figure.

Public investment is estimated to show a 1.4 pct rise in the revised report, up from the preliminary growth of 1.2 pct.

[Copyright The Jiji Press, Ltd.]

Jiji Press