Japan's Economy Shrinks at Faster Pace Than Initially Estimated

Core Insights - Real gross domestic product (GDP) contracted by 2.3% on an annualized basis in the third quarter, which is a larger decline than the preliminary estimate of a 1.8% decrease [1] Economic Performance - The contraction of 2.3% indicates a significant downturn in economic activity during the third quarter, suggesting potential challenges for various sectors [1] - The revision from the preliminary estimate highlights the volatility and uncertainty in economic forecasting [1]