Japan’s gross domestic product contracted 0.8 percent on year in the third quarter of 2022, the Cabinet Office said on Thursday.
That exceeded expectations for a decline of 1.1 percent following the 4.6 percent increase in the previous three months.
On a seasonally adjusted quarterly basis, GDP fell 0.2 percent – again beating forecasts for a decline of 0.3 percent after climbing 1.1 percent in the three months prior.
Capital expenditure was up 1.5 percent on quarter, in line with expectations and down from 2.4 percent in the second quarter.
External demand was down 0.6 percent on quarter versus forecasts for a fall of 0.7 percent after adding 0.2 percent in Q2.
Private consumption rose 0.1 percent, shy of forecasts for an increase of 0.3 percent after rising 1.2 percent in the previous quarter.