Japan's Q3 GDP revised down to 2.9% contraction

July-September figure worse than preliminary estimates on weak consumption

20231207 Japan GDP

Slowing corporate investment has weighed on Japan's economy. (Photo by Satoko Kawasaki)

CHIHIRO ISHIKAWA, Nikkei staff writer

TOKYO -- Japan's economy shrank an annualized 2.9% in the three months through September from the previous quarter, according to data from the Cabinet Office on Friday, worse than the preliminary 2.1% contraction released last month.

The revised gross domestic product figure showed the country marking its first economic contraction in four quarters, as inflation weighed on private consumption and as corporate investment slowed.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.