I happened to see some estimates of Japan’s GDP moments ago. The first report says Japan beat GDP estimates. The second report, four minutes later, says Japan misses GDP estimates. The headlines are both from Bloomberg.

Something seriously went wrong here. I am not quite sure where but I suspect Bloomberg jumped the gun. The 07:52PM link now points to the top article: Japan’s GDP Growth Revised Down on Softer Capital Expenditure.

“Japan’s economy grew less than the government’s preliminary estimate in the second quarter, weighed down by a revision in capital expenditure by companies.”

Apparently, that is the correct story.

Mike “Mish” Shedlock