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Japan third quarter GDP revised down to minus 2.5 percent annualised

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By Reuters
Japan third quarter GDP revised down to minus 2.5 percent annualised
FILE PHOTO - A worker cycles near a factory at the Keihin industrial zone in Kawasaki, Japan, March 8, 2017. REUTERS/Toru Hanai/File Photo   -  Copyright  Toru Hanai(Reuters)

TOKYO (Reuters) – Japanese gross domestic product (GDP) shrank at an annualised rate of 2.5 percent in July-September, deeper than an initial estimate of a 1.2 percent contraction, revised data from the Cabinet Office showed on Monday.

The revised figure was also sharper than economists’ median estimate for a 1.9 percent annualised decline in a Reuters poll, hurt by natural disasters and sluggish exports.

The figure translates into a quarter-on-quarter contraction of 0.6 percent in real, price-adjusted terms, against a preliminary reading of a 0.3 percent contraction and economists’ median estimate of a 0.5 percent decline.

For the full tables on the Cabinet Office’s website:

http://www.esri.cao.go.jp/en/sna/sokuhou/sokuhou_top.html

(Reporting by Tetsushi Kajimoto; Editing by Chang-Ran Kim)