TOKYO: Japan’s revised real gross domestic product is expected to show an annualized decrease of 1.8 pct during July-September, better than the 2.1 pct fall in a preliminary report, think tanks say.

On a nonannualized basis, the country’s revised GDP growth is estimated at a 0.5 pct fall, unchanged from the preliminary report released last month, according to the average estimate among the 10 think tanks.

The Cabinet Office will release revised GDP data for the second quarter of fiscal 2023 on Friday.

The upward revision to the annualized growth reflects higher capital investment, whose growth rate is believed to be revised up to a fall of 0.5 pct from 0.6 pct.

This is in line with the results of the recent Finance Ministry quarterly report showing a 1.4 pct increase in seasonally adjusted capital investment by all nonfinancial industries in July-September.

Private inventories’ contribution to GDP growth is forecast at minus 0.2 percentage point, better than minus 0.3 point.   Public investment growth is now put at a 0.7 pct fall, weaker than the 0.5 pct decrease.

JIJI Press