AFP, Tokyo :
Japan notched up its seventh straight quarter of economic growth, official data showed on Wednesday, although the rate of expansion in the world’s third-biggest economy is slowing.
Japanese gross domestic product (GDP) grew by 0.3 percent in the third quarter of the year, marking the longest string of gains for more than 16 years.
However, the figure represented a slowdown from the second quarter, when the economy grew by 0.6 percent, as a recovery in private consumption appeared to lose steam.
The economy grew by an annualised 1.4 percent, driven mainly by robust exports, the Cabinet Office in Tokyo announced.
“On average, the Japanese economy is on track for a gradual recovery,” Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute, told AFP.
He said the decline in private consumption growth was due to a “backlash” from the second quarter, where demand was “too strong.”
Japan notched up its seventh straight quarter of economic growth, official data showed on Wednesday, although the rate of expansion in the world’s third-biggest economy is slowing.
Japanese gross domestic product (GDP) grew by 0.3 percent in the third quarter of the year, marking the longest string of gains for more than 16 years.
However, the figure represented a slowdown from the second quarter, when the economy grew by 0.6 percent, as a recovery in private consumption appeared to lose steam.
The economy grew by an annualised 1.4 percent, driven mainly by robust exports, the Cabinet Office in Tokyo announced.
“On average, the Japanese economy is on track for a gradual recovery,” Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute, told AFP.
He said the decline in private consumption growth was due to a “backlash” from the second quarter, where demand was “too strong.”
