Japan avoided a 2015 recession after the final Q3 data came in much, much better than preliminary result had indicated.
Main revision was business investment (via Wall Street Journal, may be gated):
- Initially estimated to have fallen 5% in the quarter on an annualized basis
- Revision showed it increased 2.3%
Via Bloomberg:
"Japan's economy is back on a recovery track after a soft patch. The data points to an improvement in capital spending," Hiroaki Muto, chief economist at Tokai Tokyo Research Center Co. in Tokyo, said after the report was released. "The recovery is nowhere near what you'd call strong but we don't have to be too pessimistic either."
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The Bank of Japan meet next week ... the potential for further monetary stimulus is receding more and more.
