Actually, Japan didn't go into recession

Photo: Getty Images

After initially being reported as a quarterly contraction of 0.2%, leaving the economy in a technical recession, Japanese economic growth surprised to the upside in the September quarter with an expansion of 0.3% reported.

The upward revision left the seasonally-adjusted annual rate of growth at 1.0%, above the 0.8% contraction reported by the government previously.

A boost in private capital expenditure, along with a smaller than expected decline from inventories, helped to offset a 0.1 percentage point downgrade to the initial private consumption figure.

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