Japan is growing twice as fast as previously estimated, official data showed on Friday, with the world’s third-largest economy posting its longest string of gains in more than two decades. Gross domestic product in the third quarter of the year rose 0.6 percent compared to the previous quarter, the Cabinet Office said, doubling a previous estimate of 0.3 percent. Capital spending — investment in equipment and plants by private firms — was revised from 0.2 percent to 1.1 percent for the July-September quarter. Private spending should pick up in the coming months as wages edge up due to a labour shortage, Nagai said. The government may declare in early 2019 or late 2018 that the nation is finally out of years of deflation that has dogged the economy, Nagai said.

Source: Manila Times December 08, 2017 02:03 UTC