Q3 GDP revised to annualised 2.9 vs preliminary 2.1
Consumption 0.2, capex 0.4 after revision
Real wages 2.3, household spending 2.5 in October

TOKYO, Dec 8 Reuters Japan39;s economy fell faster than first estimated in the third quarter, revised data showed on Friday, as the household sector faced growing headwinds, complicating the central bank39;s efforts to phase out its accommodative monetary policy.

Consumer and business spending both shrank, driving down thirdquarter gross domestic product GDP. Separate data showed real wages and household spending kept falling in October, as prolonged inflation discouraged shoppers.

Weakness in personal consumption is likely to continue for the foreseeable future, as real disposable income is likely to extend its decline, which is seen as a factor in sluggish consumption, said Kota Suzuki, an economist at Daiwa Securities.

The economy lost an annualised 2.9 in JulySeptember, the revised Cabinet Office data showed, more than a previously estimated 2.1 contraction and market forecasts for a revised 2.0 decline.

Capital expenditure fell 0.4, which compared with a preliminary 0.6 decease and a median market forecast for a 0.5 fall.

Private consumption, which makes up more than half of the economy, fell 0.2 in JulySeptember, versus a mostly flat performance in the initial estimate.

External demand shaved 0.1 percentage point off real GDP, in line with the preliminary reading, as service imports outgrew auto exports….