Japan's economic shrinkage in July-Sept. amid pandemic downgraded to 3.6%

Japan's economy in the July-September period shrank an annualized real 3.6 percent from the previous quarter, downgraded from the 3.0 percent contraction initially reported, as spending on durable goods and services was lower amid the coronavirus pandemic, government data showed Wednesday.A technical change in the way seasonal adjustments are made led to a larger, 1.3 percent fall in private consumption, which accounts for more than half of the country's gross domestic product, revised down from a 1.1 percent decline, according to the Cabinet Office.The overall downward revision reflected a…READ FULL ARTICLE