Think Tanks Estimate 0.2 Pct Rise in Japan's July-Sept. GDP

Tokyo, Nov. 13 (Jiji Press)--Japan's real gross domestic product in the July-September quarter is believed to have increased 0.2 pct from the previous quarter, for an annualized increase of 0.6 pct, according to estimates released by 10 private think tanks by Wednesday.

GDP is expected to expand for the second consecutive quarter, but the pace of growth is likely to be slow. "Growth overall lacks strength," said Shunsuke Kobayashi, a senior economist at Mizuho Securities Co.

The Cabinet Office is scheduled to release preliminary GDP data for the quarter on Friday.

By category, private consumption is estimated to have increased 0.3 pct, with the impact of higher bonuses and strong sales of summer products largely offset by store closures due to a typhoon and other factors.

Meanwhile, corporate capital spending is estimated to have contracted 0.3 pct, the first decline in two quarters, as auto-related investment may have shrunk due to typhoon-related factory shutdowns.

[Copyright The Jiji Press, Ltd.]