Japan July-Sept. GDP Down Annualized 2.3 Pct in Revised Report

Tokyo, Dec. 8 (Jiji Press)–Japan’s gross domestic product in July-September fell an annualized 2.3 pct from the previous quarter after price and seasonal adjustment, the Cabinet Office said in a revised report Monday. The decline was steeper than the 1.8 pct drop announced by the government agency in a preliminary report last month. In nonannualized terms, the nation’s GDP shrank a revised 0.6 pct in the second quarter of fiscal 2025, compared with the preliminary reading of a 0.4 pct decrease. Among GDP components, corporate capital spending fell 0.2 pct quarter on quarter, a downward revision from the preliminary reading of a 1.0 pct rise, reflecting a decline in software investment. Public investment was also revised down to a decline of 1.1 pct from an increase of 0.1 pct. Meanwhile, growth in private consumption, the main pillar of domestic demand, expanded to 0.2 pct from 0.1 pct reported last month, thanks to increased spending on eating out. Housing investment fell 8.2 pct, better than the preliminary figure of a 9.4 pct drop, reflecting a narrower decline in renovation spending. Exports, which were affected by the high tariff policy of U.S. President Donald Trump’s administration, decreased 1.2 pct, unchanged from the preliminary reading. Imports saw a deeper decline, falling 0.4 pct, compared with a preliminary decline of 0.1 pct. Nominal GDP, which reflects inflation, was down 0.1 pct for an annualized fall of 0.2 pct, against an increase of 0.1 pct for a rise of 0.5 pct in the preliminary data. Starting with the latest GDP report, the Cabinet Office applied new calculation methods, including an expansion of the scope of software development covered. END [Copyright The Jiji Press, Ltd.]