Japan's GDP fell 0.7% in September: JCER
Weak external demand weighed on growth as non-Chinese exports dropped off
TOKYO -- Japan's real gross domestic product slumped 0.7% on the month in September, declining for the first time in five months, according to data released Wednesday by the Japan Center for Economic Research.
Factors related to external demand pushed down growth by 0.4 percentage point. Exports sank 5.5% amid declines in shipments to major trading partners aside from China. U.S.-bound exports, which make up a large proportion of the total, tumbled 8.1%.
Capital spending slid 1.3% as well. Consumer spending was basically flat, edging up only slightly from August.