Japan’s economic growth slowed within the last three months of 2017 along with also missed expectations, preliminary official figures show.
the globe’s third-largest economy expanded at an annualised rate of 0.5% within the quarter, against analyst forecasts of 0.9%.
nevertheless This kind of is actually 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% within 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.
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 told the BBC which for the 1st time in 30 years, the country’s economy was in a positive position.
“You’ve got wages improving, along with also the quality of jobs is actually improving, so the overall environment for consumption is actually currently a positive one, while over the last 30 years This kind of was a negative one,” said Mr Koll, via WisdomTree asset management company.
“which’s the key point which’s driving the steady expansion of Japan.”