BUSINESS: JAPAN - Japan's economy avoids a technical recession

Japan's economy avoided a technical recession in the three months to September, according to revised official numbers released on Tuesday.

Preliminary numbers released last month showed the economy had contracted an annualised 0.8% during the period.

The preliminary figures meant it was Japan's second consecutive quarterly contraction, which constitutes a technical recession.

However, the revised figures show the economy expanded at an annualised 1%.

Japan, which is the world's third-biggest economy, has been in recession four times since the global financial crisis.

On a quarterly basis, the latest economic numbers show gross domestic product (GDP) for the three months to September grew 0.3% - instead of initial report which showed a contraction of 0.2%.

Analysts said Tuesday's numbers were stronger than expected.

"What's more, GDP only shrank by 0.1% quarter on quarter [in the three months to June] instead of the earlier reported 0.2%," said economist Marcel Thieliant of Capital Economics.

Mr Thielant said one reason for the revision was stronger business investment, which edged up by 0.6% instead of the preliminary reported 1.3% quarter on quarter fall.


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