Japan’s gross domestic product contracted an annualized 3.6 percent on year in the third quarter of 2021, the Cabinet Office said on Wednesday.
That missed forecasts for a drop of 3.1 percent following the 2.0 percent increase in the second quarter.
On a seasonally adjusted quarterly basis, GDP sank 0.9 percent – also missing forecasts for a drop of 0.8 percent after adding 0.4 percent in the three months prior.
Capital expenditure was down 2.3 percent on quarter, exceeding expectations for a decline of 3.9 percent following the 2.2 percent gain in the previous three months.
GDP external demand was flat on quarter, while private consumption was down 1.3 percent.