Japan's economy likely shrank in the July-September period, the first contraction in four quarters, according to a Reuters poll, heightening challenges for the central bank's exit from ultra-loose monetary policy.
Gross domestic product in the world's third-largest economy was projected to have eased by an annualised 0.6% in the third quarter, the poll showed, after expanding 4.8% in April-June.The weak reading likely reflects soft consumption and exports, suggesting that accelerating inflation and weakening demand in China are taking a toll on a fragile economic recovery.
"But the recovery in consumption will likely remain moderate due to the pain from rising inflation," they said. Capital expenditure rose 0.3% in the third quarter after declining 1.0% in April-June, according to the poll.
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