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Financial News: Japan GDP Revised Down To -7.1% In Q4

Japan GDP Revised Down To -7.1% In Q4

03/08/2020 - 20:22:00 (RTTNews)

(RTTNews) - Japan's gross domestic product saw a downward revision to -7.1 percent on year in the fourth quarter of 2019, the Cabinet Office said on Monday.

That was worse than expectations for -6.6 percent after last month's preliminary reading suggested a decline of 6.3 percent.

On a seasonally adjusted quarterly basis, GDP sank 1.8 percent - also missing expectations for a drop of 1.7 percent and down from -1.6 in the preliminary reading.

Nominal GDP fell 1.5 percent on quarter, missing expectations for -1.3 percent and down from -1.2 percent. The GDP deflator gained 1.2 percent on year, shy of expectations for 1.3 percent - which would have been unchanged.

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