Japan's economy expanded at a faster pace than initially reported in the July-September quarter, bolstered by upward revisions in capital investment and exports.
According to revised data from the Cabinet Office released on Monday, gross domestic product (GDP) grew at an annualised rate of 1.2%, surpassing the initial estimate of 0.9%.
On a quarter-on-quarter basis, GDP rose by 0.3% in price-adjusted terms, up from the previously reported 0.2% growth. The stronger domestic demand is a positive sign for policymakers, but concerns persist about external factors, including the potential impact of U.S. President-elect Donald Trump’s proposed tariffs.
Capital expenditure, a key indicator of private-sector strength, declined by 0.1% during the third quarter, an improvement from the 0.2% drop initially reported.
Private consumption, which accounts for over half of Japan’s economy, grew by 0.7%, slightly below the preliminary estimate of 0.9%.