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Japan’s Economy Expands Again
Japan’s real gross domestic product climbed by an annualized 0.5% in October-December, according to preliminary government data.
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Japan’s real gross domestic product climbed by an annualized 0.5% in October-December, according to preliminary government data.
The quarterly growth rate compares with 2.2% in the previous quarter and 0.9% year-predicted by economists. But it was enough to give the economy its eighth consecutive quarterly gain, thus marking Japan’s longest period of economic expansion since the late 1980s.
Growth was driven primarily by a 0.5% increase in consumer spending, which accounts for about 60% of Japan’s economy, and rising private capital investment. Those factors narrowly offset an uptick in imports and slowdowns in the housing sector and public investment.
The government says gains in employment and wages suggest an improving environment for consumption.
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