Japan GDP Due On Monday

(RTTNews) - Japan is set to release preliminary readings for gross domestic product for the fourth quarter of 2008, headlining Monday’s Asian economic news. Also due from Japan are numbers for industrial production, capacity utilization and Tokyo condominium sales.

GDP is expected to contract 3.1 percent compared to the previous quarter after the 0.5 percent decline in Q3. On an annualized basis, the Japanese economy is seen to have declined 11.6 percent after easing 1.8 percent on year in the third quarter. The numbers for industrial production are final values - the preliminary reading for December was 9.6 percent lower on month and 20.6 percent lower on year. Capacity utilization for December was down 9.4 percent.

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