FX.co ★ Japan GDP Slips 0.7% On Quarter In Q3

Japan's gross domestic product contracted a seasonally adjusted 0.7 percent on quarter in the third quarter of 2023, the Cabinet Office said on Friday.

That missed expectations for a decline of 0.5 percent following the 1.2 percent expansion in the previous three months.

On an annualized basis, GDP dropped 2.9 percent - again missing forecasts for a decline of 2.1 percent following the 4.8 percent gain in the three months prior.

External demand was down 0.1 percent on quarter, while private consumption slipped 0.2 percent on quarter.