Japanese GDP appears weak as year closes

JAPAN’s prospects for recovery will be clearer this week, with expected data releases on lending, machinery orders and consumer confidence.

And on Thursday the growth level for the third quarter of the year may be revised. The first estimate said the Japanese economy expanded by 0.9 per cent in the three months to September, yet prospects for the end of the year are less optimistic.

“GDP may well contract again in the current quarter following the expiry of government subsidies for car purchases,” said Julian Jessop of Capital Economics.