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Financial News: Japan GDP Surges 21.4% On Year In Q3

Japan GDP Surges 21.4% On Year In Q3

11/15/2020 - 19:20:00 (RTTNews)

(RTTNews) - Japan's gross domestic product jumped 21.4 percent on year in the third quarter of 2020, the Cabinet Office said in Monday's preliminary report.

That exceeded expectations for an annualized jump of 18.9 percent following the 28.8 percent plunge in the previous three months.

On a quarterly basis, GDP expanded 5.0 percent - also beating forecasts for a gain of 4.4 percent following the 8.2 percent slide in the second quarter.

Capital Expenditure was down 3.4 percent on quarter, missing forecasts for a drop of 3.0 percent after sinking 4.5 percent in the three months prior.

GDP private consumption gained 4.7 percent on quarter, missing expectations for 5.1 percent after falling 3.1 percent in Q2.

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