FXStreet (Mumbai) – Japan’s final GDP figures revealed that the economy expanded in the third quarter and avoided recession as seen in the initial estimate on the back of stronger investments and slower pace of decline in the inventories.
According to the latest figures released by the Cabinet Office on Tuesday, Japan’s Q3 GDP expanded to 0.3%, revised up from -0.2%. Markets had predicted a 0.1% increase in overall output.
While on annual basis, the economy expanded 1.0% in the third quarter, beating the first estimate of a 0.8% contraction.
The upward revision to the growth estimate offers some respite to the Japanese policymakers, who finally see their efforts to energize Japan’s ailing economy paying-off.
(Market News Provided by FXstreet)