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Kishida Confirms Japan Overstated Construction Data Used in GDP

  • Ministry had exaggerated data for nearly a decade, media say
  • Data set feeds directly into Japan’s gross domestic product
Fumio Kishida

Fumio Kishida

Photographer: Kiyoshi Ota/Bloomberg
Updated on

Japanese Prime Minister Fumio Kishida apologized for the government’s mishandling of economic data after media reports said it overstated construction order figures, a key numbers set used to calculate economic growth, for years.

“This is extremely regrettable and we need to examine how it occurred to ensure it doesn’t happen again,” Kishida said in parliament Wednesday.