Japan's third-quarter GDP contracts annualised 1.2 percent

Reuters
FILE PHOTO: Geishas, traditional Japanese female entertainers, perform their dance during a press preview of the annual Azuma Odori Dance Festival at the Shinbashi Enbujo Theater in Tokyo, Japan May 23, 2018. REUTERS/Issei Kato/File Photo

TOKYO (Reuters) - Japan's economy shrank at an annualised rate of 1.2 percent in July-September, government data showed on Wednesday, after natural disasters disrupted production and a slowdown in overseas demand undermined exports.

The preliminary reading for third-quarter gross domestic product compared with the median estimate of a 1.0 percent annualised contraction in a Reuters poll of economists. It followed a 3.0 percent expansion in April-June.

On a quarter-on-quarter basis, GDP shrank 0.3 percent, matching the median estimate.

(Reporting by Leika Kihara and Stanley White; Editing by Chris Gallagher)

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