The Japanese GDP shrank 0.4 percent on quarter in the last three months of 2015, dragged down by a fall in private consumption and housing investment, preliminary estimates showed. Figures came worse than market expectations of a 0.3 percent contraction and compare with a 0.3 percent expansion in the third quarter of 2015.
Domestic demand declined 0.5 percent and subtracted 0.5 percentage points off growth.
Private consumption went down 0.8 percent, diminishing 0.5 percentage points to growth. Private residential investment fell 1.2 percent while private non-residential investment grew 1.4 percent, adding 0.2 percent to growth. Inventories subtracted 0.1 percentage point off growth.
Public investment shrank 2.7 percent and subtracted 0.1 percent off growth while government spending rose 0.5 percent, adding 0.1 percent.
External demand contributed 0.1 percentage point to growth: exports declined 0.9 percent while imports fell at a faster 1.4 percent.
On an annualized basis, the economy contracted 1.4 percent, following an upwardly revised 1.3 percent expansion in the three months to September and compared to market expectations of a 1.2 percent drop.
2/15/2016 4:43:24 AM