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Japan to revamp economic data amid criticism over GDP

Change to take effect in 2022 expected to reduce frequent wild revisions

Workers at a steel factory in Mie Prefecture, central Japan. Detailed industrial output data will help improve Japan's estimates of its GDP. (Photo by Koji Uema)

TOKYO -- The Japanese government has belatedly set about making its economic data releases more up-to-date, as the country hopes to bring the quality of its statistics more in line with the standards of its peers in the Group of Seven leading industrial nations.

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