TOKYO (Reuters) - Japan’s economy expanded 0.3 percent in July-September from the previous quarter, government data showed on Monday, revised down from a preliminary 0.5 percent increase.
The downward revision underscores the fragile state of Japan’s economic recovery, now enjoying a temporary boost from pent-up demand ahead of an increase in the sales tax next April.
The result fell short of a median market forecast for a 0.4 percent increase in a Reuters poll.
The revised gross domestic product figure translates into an annualised 1.1 percent growth, down from an initial reading of 1.9 percent. That compared with a median market forecast for a revision to a 1.6 percent annualised increase.
Reporting by Leika Kihara; Editing by Chris Gallagher