New government data show Japan's GDP grew for the second consecutive quarter in the three months through September.
The Cabinet Office released preliminary Gross Domestic Product figures for the July-to-September period on Friday. They show the economy expanded by an annualized 0.9 percent in real terms compared with the previous three months.
Personal spending also rose by 0.9 percent, marking the second straight quarter of increases. The growth came as automobile sales recovered from production suspensions caused by a falsified test data scandal.
Strong sales of beverages due to the extreme summer temperatures also contributed to the expansion.
Private consumption accounts for more than half of Japan's GDP.
Investments were sluggish, however. Corporate capital spending declined 0.2 percent.
That is because increased factory construction had pushed up investment in the previous quarter.
Another factor was a decrease in expenditure on semiconductor manufacturing equipment.
Meanwhile, private residential investment slipped 0.1 percent.
The Cabinet Office released preliminary Gross Domestic Product figures for the July-to-September period on Friday. They show the economy expanded by an annualized 0.9 percent in real terms compared with the previous three months.
Personal spending also rose by 0.9 percent, marking the second straight quarter of increases. The growth came as automobile sales recovered from production suspensions caused by a falsified test data scandal.
Strong sales of beverages due to the extreme summer temperatures also contributed to the expansion.
Private consumption accounts for more than half of Japan's GDP.
Investments were sluggish, however. Corporate capital spending declined 0.2 percent.
That is because increased factory construction had pushed up investment in the previous quarter.
Another factor was a decrease in expenditure on semiconductor manufacturing equipment.
Meanwhile, private residential investment slipped 0.1 percent.
Similar Readings (5 items)
Japan's GDP expanded for first time in two quarters in April-June period
Japan's April-June GDP grows as consumers spend more
Japan's economy grows for 5th straight quarter in April-June
Japan's GDP grows for first time in 3 quarters
Japan GDP grows in April-June as exports recover
Summary
Japan's GDP grew for the second consecutive quarter in Q3, expanding by 0.9% year-on-year, due to increased personal spending and strong automobile sales recovery. Personal consumption, which makes up more than half of Japan's GDP, was the main driver. However, investments were sluggish, with
Statistics
150
Words1
Read CountDetails
ID: 6bae6f2d-13c2-4733-b0db-e1e41d4eaf0f
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20241115_B02/
Created: 2024/11/15 19:00
Updated: 2025/12/08 08:50
Last Read: 2024/11/16 08:12