The Japanese government on Monday downgraded the country's July-September economic growth read to an annualized rate of 1.1 percent, down from 1.9 percent released last month.

The period's growth in real gross domestic product (GDP) corresponded to a 0.3-percent increase from the previous quarter, said Japan's Cabinet Office in a report.

In an earlier report released on Nov. 14, the government said that the country's economy expanded an annualized real 1.9 percent in the period, backed by large scale public investment.