Japan's GDP shrinks more than expected in third quarter

The Japanese economy shrank 0.5% q/q in Q3 of 2023, worse than market forecasts of a 0.1% decline and after a 1.1% growth in Q2, a flash figure showed.

The Japanese economy contracted 2.1% on an annualized basis during the third quarter of 2023, compared with market estimates of a 0.6% fall and after a downwardly revised 4.5% growth in Q2, a preliminary reading showed. This was the first yearly contraction in economic activity since Q4 of 2022 , amid elevated cost pressure and mounting global headwinds.

Private consumption remained weak while business spending fell further. In addition, net trade contributed negatively to the GDP as imports grew faster than exports.

In addition, net trade contributed negatively to the GDP as imports grew faster than exports.

ETFs: (JEQ), (EWJ), (DXJ), (FXY).

Currency: (USD:JPY)

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