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Japan's GDP grows for second successive quarter NHK

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.
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
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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