Japan’s economy continues to sputter and is expected to have shrunk for the fifth quarter in two years as Prime Minister Fumio Kishida puts the finishing touches on a stimulus package aimed at shoring up the recovery.
Economists estimate gross domestic product contracted an annualized 0.7% in the three months to September, dragged down by private consumption as the country battled a resurgence in COVID-19 infections and global supply-chain constraints that hit production at automakers like Toyota Motor Corp. and Honda Motor Co.
After the release of the data on Monday, Kishida is expected to unveil his stimulus measures at the end of the week. A bigger-than-expected contraction could inflate their size.