Japan GDP Tumbles 3.0% On Year In Q3

Japan's gross domestic product contracted an annualized 3.0 percent on year in the third quarter of 2021, the Cabinet Office said in Monday's preliminary report.

That was well shy of expectations for a drop of 0.8 percent on year following the downwardly revised 1.5 percent increase in the three months prior (originally 1.9 percent).

On a seasonally adjusted quarterly basis, GDP sank 0.8 percent - again missing forecasts for a fall of 0.2 percent following the downwardly revised 0.4 percent gain in the second quarter (originally 0.5 percent).

Capital expenditure tumbled 3.8 percent on quarter versus forecasts for a decline of 0.6 percent following the upwardly revised 2.2 percent gain in the previous three months (originally 1.4 percent).

Private consumption shed 1.1 percent on quarter versus expectations for a decline of 0.5 percent after climbing 0.9 percent in Q2.

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