Japan's Q3 GDP falls faster than first estimates as consumption sags

TOKYO: Japan's economy fell faster than first estimated in the third quarter, revised data showed on Friday, as the household sector faced growing headwinds, complicating the central bank's efforts to phase out its accommodative monetary policy.

Consumer and business spending both shrank, driving down third-quarter gross domestic product (GDP). Separate data showed real wages and household spending kept falling in October, as prolonged inflation discouraged shoppers.