Japan’s Q3 GDP growth was finalized at 0.4% qoq, revised up from preliminary reading of 0.1% qoq. Annualized rate was revised sharply higher to 1.8%, up from 0.2%. That’s the fourth consecutive quarter of growth despite persistent global headwinds.
Looking at some details, capital spending rose 1.8% qoq, revised up from 0.9% qoq. Private consumption rose 0.5% qoq, revised up from 0.4% qoq. Domestic demanded contributed to 0.6% qoq GDP growth while net exports subtracted -0.2% qoq.
Also from Japan, bank lending rose 2.1% yoy in November, above expectation of 1.9% mom. Current account surplus widened to JPY 1.73T, slightly below expectation of JPY 1.74T.