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Japan GDP Slumps 0.5% In Q3
(RTTNews) - Japan's gross domestic product dropped a seasonally adjusted 0.5 percent on quarter in the third quarter of 2023, the Cabinet Office said in Wednesday's preliminary report.
That missed expectations for a decline of 0.1 percent following the downwardly revised 1.1 percent increase in the previous three months (originally 1.2 percent).
On an annualized basis, GDP slumped 2.1 percent - again missing forecasts for a decline of 0.6 percent following the downwardly revised 4.5 percent increase in Q2 (originally 4.8 percent).
Capital expenditure was down 0.6 percent on quarter, shy of expectations for an increase of 0.3 percent following the 1.0 percent drop in the three months prior.
External demand was down 0.1 percent on quarter, while private consumption was flat.
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