Japan GDP Growth Revised Down to 0.3% in Q3


The Japanese economy advanced 0.3 percent on quarter in the three months to September of 2016, below preliminary estimates of a 0.5 percent expansion. Domestic demand was flat and net trade contributed less to growth than initially estimated.

Domestic demand was flat (0.1 percent in the preliminary estimate) and showed no contribution to growth. Household consumption increased 0.3 percent (0 percent in the preliminary estimate) and private residential investment went up 2.6 percent (2.3 percent in the preliminary estimate) while non-residential investment shrank 0.4 percent (0 percent in the preliminary estimate). Public spending rose at a slower 0.3 percent (0.4 percent in the preliminary estimate) and public investment edged up 0.1 percent (-0.7 percent in the preliminary estimate).

Meanwhile, changes in inventories subtracted 0.3 percentage points from growth (-0.1 percentage points in the preliminary estimate).

External demand added 0.3 percentage points to growth (0.5 percent in the preliminary estimate), as exports of goods and services expanded 1.6 percent (2 percent in the preliminary estimate) while imports dropped 0.4 percent (-0.6 percent in the preliminary estimate).

On an annualised basis, Japan's economy grew 1.3 percent in the third quarter of 2016, lower than a 2.2 percent expansion in the preliminary reading.

Cabinet Office | Joana Taborda | joana.taborda@tradingeconomics.com
12/8/2016 1:20:17 AM