By Chi-Chu Tschang, BridgeNews
Hong Kong--Feb. 6--Lehman Brothers has revised its growth domestic forecast for Japan's third quarter ended September 2000 to -0.2% quarter-on-quarter from 0.2% qoq, Paul Sheard, Lehman Brother's chief economist Asia, told BridgeNews Wednesday. The Japanese government will release its revised July-September GDP figures Thursday 0850 Japan time (2350 GMT).
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The Japanese government originally used preliminary capital expenditure (CAPEX) data to make its third quarter GDP forecasts. "The CAPEX data turned out to be much worse than had been expected so the markets realize that there will be a downgrade and that it will go into negative territory," said Sheard. "Given other negative sentiments there is right now, at the moment, around Japan, that's something that there is concern about," added Sheard. Lehman Brothers has penciled in 0.1% qoq GDP growth for the fourth quarter, said Sheard. End