Japan: GDP growth moderating - BBH

Japan's first estimate of Q3 GDP was slightly slower than expected as 0.3% quarter-over-quarter growth was half the pace of Q2, notes the analysis team at BBH.

Key Quotes

"Still, it is the seventh consecutive quarterly expansion, which is Japan's longest growth streak since 2001. Growth was driven primarily by net exports and capex. Private consumption was a drag, falling 0.5% after Q2 consumption was revised to 0.7% from 0.8%. Japan's initial estimate for quarterly GDP, like the US estimate, is subject to statistically significant revisions. The first revision is due on December 8. "

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