Japan GDP Contracts In Q3
(RTTNews) - Japan's gross domestic product was down an annualized 1.2 percent on year in the third quarter of 2022, the Cabinet Office said in Tuesday's preliminary reading.
That missed expectations for an increase of 1.1 percent following the upwardly revised 4.6 percent expansion in the previous quarter (originally 3.5 percent).
On a seasonally adjusted quarterly basis, GDP fell 0.3 percent - again shy of forecasts for an increase of 0.3 percent following the upwardly revised 1.1 percent growth in the three months prior (originally 0.9 percent).
Capital Expenditure was up 1.5 percent on quarter, well shy of expectations for a gain of 2.1 percent and down from 2.4 percent in the second quarter.
External demand was down 0.7 percent on quarter, while private consumption rose 0.3 percent on quarter.
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