TOKYO (Reuters) – Japan’s economy shrank 3.6% in the third quarter, worse than the initial estimate of a 3.0% contraction, revised government data showed on Wednesday, posting a decline as private spending took a hit from a resurgence in COVID-19.
The revised figure for gross domestic product (GDP) released by the Cabinet Office compared with economists’ median forecast for a 3.1% contraction in a Reuters poll.
On a quarter-on-quarter basis GDP fell 0.9%, slightly worse than the initial reading and median forecast for a 0.8% drop.
(Reporting by Daniel Leussink; Editing by Chang-Ran Kim)
