Japan’s GDP Sinks 3.6% On Year In Q3

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.

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