• search
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Japan economy grows for 8th straight quarter

    By Pti
    |

    Tokyo, February 14: Japan's economy grew for the eighth straight quarter at the end of 2017, government data showed on Wednesday, the longest period of expansion since the boom days of the late 1980s.

    Japan economy grows for 8th straight quarter

    Gross Domestic Product (GDP) in the fourth quarter of last year rose 0.1 per cent from the previous three months, the Cabinet Office said.

    But the growth fell short of market expectations for a rise of 0.2 per cent and represented a slowdown from the 0.6 per cent in the preceding July-September quarter. At an annualised rate, the world's third largest economy grew 0.5 per cent.

    The gains were driven by upturns in consumer spending as well as increased investment by Japanese firms on equipment and facilities. Exports rose but imports increased at a faster pace.

    The continuing economic growth is good news for Prime Minister Shinzo Abe, who has been trying to fire up the economy with his pro-spending policy. The Japanese economy has enjoyed a period of export-driven growth, helped by a recovering global economy.

    It has also got a shot in the arm from domestic demand spurred by infrastructure upgrades ahead of the 2020 Olympic Games. However, with wage growth and consumption persistently lukewarm, the world's third-largest economy is still battling deflation. 

    PTI

    For Daily Alerts

    For Breaking News from Oneindia
    Get instant news updates throughout the day.

    Notification Settings X
    Time Settings
    Done
    Clear Notification X
    Do you want to clear all the notifications from your inbox?
    Settings X
    X
    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more