Japan’s economy shrank more than initially estimated in the third quarter of 2014, according to revised gross domestic product (GDP) figures.
The economy contracted by 1.9% in annual terms from July to September, well above a preliminary reading of 1.6%.
It also shrank 0.5% on a quarterly basis, compared with an initial estimate of 0.4%, data showed.
A big fall in business spending plunged the economy into a deeper recession.
The revised figures, which come just days before Japan’s national elections, showed that business spending dipped by 0.4% from the previous quarter, instead of the 0.2% estimated in the preliminary reading.
via BBC
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