Japan's GDP contracted 0.5 percent quarted-on-quarter in July to September period, against a preliminary reading of a 0.4 percent drop as capital expenditure fell more than previously estimated and public demand was weaker.
Private demand declined 0.9 percent subtracting 0.7 percentage point from the growth. Private consumption, which accounts for about 60 percent of the economy, rose only 0.4 percent. Housing investment decreased 6.8 percent (-6.7 percent reported in the preliminary reading). Capital spending dropped 0.4 percent (-0.2 percent reported in the preliminary reading) and subtracted additional 0.1 percent from GDP number. The 0.5 percent negative contribution from private inventory remained unchanged.
Public demand increased 0.5 percent (0.7 percent reported in the preliminary reading) and added 0.1 percent to the growth (0.2 in preliminary reading).
External demand contribution to the growth remained the same at 0.1 percentage point.
The third quarter gross domestic product figure translated into an annualised contraction of 1.9 percent against a preliminary reading of a 1.6 percent drop.
12/8/2014 12:24:49 AM