Japan upgrades 3Q GDP as capex jump boosts domestic demand

Private consumption, which accounts for some 60% of gross domestic product, rose 0.5% from the previous three months, slightly better than the preliminary reading for a 0.4% gain.

TOKYO: Japan's economy expanded at a much faster-than-initially-reported pace in July-September, driven by resilient domestic demand even as exports took another hit from slowing global growth and rising trade tensions.

The quicker growth came on the back of an improvement in capital expenditure and private consumption, which both expanded in the second quarter, offsetting a hit from a decline in exports.