Japan avoids recession, revised growth at 1 percent
In this Oct. 21, 2015 file photo, workers watch shipping and discharging of containers at a port in Tokyo. Japan’s economy grew at an annual 1.0 percent pace in the July to September quarter, according to revised data that indicates the country dodged a recession. The revised growth estimate issued Tuesday, Dec. 8, 2015 shows stronger corporate investment and a slightly higher pace of growth in exports than earlier reported. AP File Photo
TOKYO, Japan—Japan says its economy grew at an annual 1.0 percent pace in July to September according to revised data that indicate the country dodged a recession.
Earlier estimates had shown growth for the world’s third-largest economy at minus 0.8 percent, the second straight quarter of contraction. Two consecutive quarters of contraction are considered a technical recession.
The revised growth estimate shows stronger corporate investment and a slightly higher pace of growth in exports than earlier reported.
On a quarterly basis the economy expanded 0.3 percent from the previous quarter instead of contracting 0.2 percent as the earlier estimate showed.
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