Japan dodges recession as Q3 GDP revised up

Revised Japanese government data showed gross domestic product rose at a 1% annualized rate, up from a preliminary reading of a 0.8% contraction.

Japan's economy dodged a technical recession in July-September with revised government data on Tuesday showing gross domestic product (GDP) rose at a 1 percent annualized rate, compared with a preliminary reading of a 0.8 percent contraction.

The result compared with the median estimate of 0.1 percent growth in a Reuters poll of economists. A technical recession is usually defined as two consecutive quarters of economic contraction.

The data released Tuesday showed that revised third-quarter GDP was up 0.3 percent on-quarter. The preliminary release had shown an on-quarter decline of 0.2 percent.

A revision showing even just a glimmer of growth would be a boon for policymakers struggling to energize Japan's listless economy and to convince skeptics that Prime Minister Sinzo Abe's "Abenomics" policies were working.

- Reuters contributed to this report.

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