Japan’s economy has grown at a faster pace than initially estimated, indicating more strength in the recovery as the central bank parses data ahead of a policy decision later this month.
Japan’s gross domestic product (GDP) grew at an annualized pace of 1.2% in the three months through September from the previous quarter, the Cabinet Office said Monday. The result beat a preliminary estimate of 0.9%. Economists had forecast an upward revision to 1%.
The stronger growth data support the Bank of Japan’s view that the economy will continue to expand moderately. The decline in both net exports and capital expenditure shrank, while inventory growth was also revised up.
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