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Japan GDP Slows To 0.5% in Final Quarter Of 2017

Japan’s economic growth slowed in the last three months of 2017 and missed expectations, preliminary official figures show.

Japan GDP Slows

The world’s third-largest economy expanded at an annualised rate of 0.5% in the quarter, against analyst forecasts of 0.9%.

But it is still the country’s eighth consecutive quarter of growth – the longest streak since the late 1980s.

The GDP figures compare with annualised growth of 2.2% in the previous quarter.

Annualised growth rates represent a value of growth if the quarter-on-previous quarter rate of change were maintained for a full year.

‘Positive position’

Despite the disappointing data, there were signs of confidence among Japanese shoppers.

Consumer spending, which accounts for about 60% of Japan’s economy, rose by 0.5% compared with the quarter before, against expectations for a rise of 0.4%.

Tokyo-based economist Jesper Koll that for the first time in 30 years, the country’s economy was in a positive position.

“You’ve got wages improving, and the quality of jobs is improving, so the overall environment for consumption is now a positive one, while over the last 30 years it was a negative one,” said Mr Koll, from WisdomTree asset management company.

“That’s the key point that’s driving the steady expansion of Japan.”

Tony Williams
Tony Williams
Tony Williams is a seasoned journalist with over 10 years of experience covering a wide range of topics, from local news to international events. With a keen eye for detail and a passion for uncovering the truth, Tony has won numerous awards for his investigative reporting. He holds a degree in journalism from the University of California and has worked for several top-tier newspapers. Tony is known for his tenacity and commitment to delivering high-quality journalism to his readers, and he is widely respected in the industry for his integrity and professionalism.
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