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Japan revises 3Q economic growth estimate downward to 1.1 per cent
– canadianbusiness.com
TOKYO – Japan has revised its economic growth estimate for the last quarter downward after finding that capital investment slowed more than expected in July-September.
The government said Monday that the world’s third-largest economy grew an annualized 1.1 per cent in the last quarter, less than half the pace of the previous quarter. The previous estimate had put growth at 1.9 per cent.
The economy grew at a 4.3 per cent pace in the first quarter of the year and 3.8 per cent in April-June.
Prime Minister Shinzo Abe’s growth strategy centres on cheap credit, a weak yen and longer-term reforms to boost competitiveness, but corporate investment and personal incomes have yet to rebound. Meanwhile, exports have grown less than expected despite the weaker yen, partly due to slowing growth in many emerging economies.
The revised data for the third quarter showed that the economy expanded 0.3 per cent from the second quarter. The original estimate was 0.5 per cent quarter-on-quarter growth…
The government said Monday that the world’s third-largest economy grew an annualized 1.1 per cent in the last quarter, less than half the pace of the previous quarter. The previous estimate had put growth at 1.9 per cent.
The economy grew at a 4.3 per cent pace in the first quarter of the year and 3.8 per cent in April-June.
Prime Minister Shinzo Abe’s growth strategy centres on cheap credit, a weak yen and longer-term reforms to boost competitiveness, but corporate investment and personal incomes have yet to rebound. Meanwhile, exports have grown less than expected despite the weaker yen, partly due to slowing growth in many emerging economies.
The revised data for the third quarter showed that the economy expanded 0.3 per cent from the second quarter. The original estimate was 0.5 per cent quarter-on-quarter growth…
