pattern photo
YEARS
Japan's economy grew for the second consecutive quarter on the back of consumer spending and its growth rate in July-September was 0.9 percent. The world's fourth largest economy had grown at the rate of 0.5 percent in the April-June quarter of financial year 2024-25. According to preliminary data from the Cabinet Office, domestic demand grew at an annual rate of 2.5 percent.
Tokyo. Japan's economy grew for the second consecutive quarter on the back of consumer spending and its growth rate in July-September was 0.9 percent. This came to light in the government data released. The world's fourth largest economy had grown at the rate of 0.5 percent in the April-June quarter of financial year 2024-25. According to preliminary data from the Cabinet Office, domestic demand grew at an annual rate of 2.5 percent. Private consumption grew by 3.6 percent on the back of healthy domestic consumption.
Exports, which make up more than half of Japan's gross domestic product, rose 1.5 percent. The weakening of the yen is beneficial for exports, as it is making Japanese products cheaper abroad. However, its impact in the last quarter was relatively limited. Earlier this year the Japanese yen was trading at the 160-yen level. It is now trading at the 150-yen level. “We believe the Japanese economy will continue to grow slowly, supported by growth in overseas assets,” said Katsutoshi Inadome, senior strategist at Sumi Trust.
Disclaimer: Prabhasakshi has not edited this news. This news has been published from PTI-language feed.
other news
