Japan Q3 GDP Growth Rate 0.2%... Two Consecutive Quarters of Positive Growth

Japan's real gross domestic product (GDP) for the third quarter of this year was estimated to have increased by 0.2% compared to the previous quarter.

According to the Cabinet Office of Japan on the 15th, the annualized growth rate was 0.9%. Nihon Keizai Shimbun (Nikkei) explained that this figure exceeds the 0.7% forecast by Japanese private firms.

Tokyo Omotesando, Japan AFP Yonhap News

Japan's real GDP growth rate was -0.6% in the first quarter but turned positive at 0.5% in the second quarter. This marks two consecutive quarters of positive growth.

Personal consumption, which accounts for more than half of the GDP, increased by 0.9% compared to the previous quarter. However, capital investment decreased by 0.2%.

Ryosei Akazawa, Japan's Minister for Economic Revitalization, said at a press conference, "We expect a gradual economic recovery to continue," adding, "It is necessary to pay close attention to downside risks in the overseas economy."

Nikkei stated, "Among economists, many believe that real growth at an annualized rate of about 1% will continue from October to December. However, overseas trends are becoming an even greater risk factor influencing Japan's economy than before. The inauguration of U.S. President-elect Donald Trump could affect Japanese exports through trade policies. The economic slowdown in China is also a concern."