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Japan Q3 GDP Boost On Last-Minute Buying; Q4 Focus
Japan's economy was boosted in the third quarter by a rise in demand ahead of the October 1 sales tax hike and careful attention should be paid to how the economy evolves in Q4 as the effects of the front-loading work through, a senior official at the Cabinet Office said Thursday. The official didn't elaborate as to what extent the economy will likely contract in the fourth quarter. Bank of Japan officials expect the economy to contract in Q4 on the back of weak exports, industrial production and consumer spending. The Cabinet Office official said, "The period of the front-loaded rise in demand before the tax hike ... (full story)