Growth revised heavily downwards between July and September, official estimates say

Official estimates of Japan’s growth between July and September were revised down heavily, suggesting the countries recovery is mor fragile than originally thought, reported the Financial Times.

Growth in the last quarter was revised down from 1.2% to 0.3%. Annually speaking the rate was down from 4.8% to 1.3%.

The growth revision highlights the risk of a “double dip” recession – with the economy turning down again by the second quarter of next year, said the FT.

Private consumption growth was revised up from 0.7 % to 0.9 % quarter on quarter.