Japan Q4 GDP rises annualised 0.5pc on consumer spending
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TOKYO, Feb 14 — Japan’s economy grew at an annualised rate of 0.5 per cent in October-December, posting the eighth straight quarter of expansion due to growth in consumer spending and capital expenditure.
That marked the longest streak of growth since a 12-quarter stretch between April-June 1986 and January-March 1989 around the height of Japan’s economic bubble.
The preliminary reading for fourth-quarter gross domestic product compared with a median estimate of a 0.9 per cent annualised increase in a Reuters poll of economists.
It followed a revised 2.2 per cent annualised rate of expansion in the third quarter, the Cabinet Office data showed this morning.
On a quarter-on-quarter basis, GDP rose 0.1 per cent, slightly less than the median estimate for a 0.2 per cent increase.
For more background, see this PREVIEW To view the full tables, go to the Cabinet Office’s website. — Reuters