Japan's Q3 GDP grew 2.5% in the final reading
Japan's Q3 GDP grew 2.5% in the final reading, up from the preliminary 1.4% gain (q/q, saar). GDP grew 2.6% in the final report for Q2. An upward revision to business investment to a 1.1% gain from the 0.2% rise in the preliminary report drove the upward revision in final Q3 GDP. Private consumption fell 0.5% in the final read Q3, identical to the preliminary report. Net exports added 0.5% to total GDP growth, the same as in the preliminary reading. The sharp upward revision to Q3 final GDP came in well ahead of expectations for a small boost. Moreover, the firm pace of business in investment in Q3 is supportive of the BoJ's goal of returning the economy to self sustaining growth. Of course, Japan's economy is a long way from that goal, suggestive of ongoing steady policy from the BoJ.