Japan Downgrades Fourth Quarter GDP on Service Sector Weakness

Japan Downgrades Fourth Quarter GDP on Service Sector Weakness
People are reflected in the windows of a department store in a shopping district in Tokyo, Japan, on June 29, 2016. Toru Hanai/Reuters
Reuters
Updated:

TOKYO—Japan’s economic rebound was softer than initial estimates in the final quarter of 2021, revised data showed on Wednesday, as the pickup seen in consumer and business spending was weaker than first reported.

The downwardly revised growth is bad news for policymakers tasked with keeping the country’s fragile recovery on track as a jump in commodity prices due to the Ukraine crisis and persistent supply disruptions heighten economic uncertainty.