Japan GDP growth slows sharply in Q3 as private spending offers limited support
Investing.com-- Japan’s economy grew slightly more than expected in the third quarter, although growth slowed sharply from the prior quarter as steady private consumption only partially offset weakness in other sectors.grew 0.9% year-on-year in the three months to September 30, government data showed on Friday. The reading was higher than Bloomberg estimates of 0.7%, but slowed sharply from the 2.9% seen in the prior quarter.grew 0.2% quarter-on-quarter, but slowed from the 0.
Friday’s reading indicated that despite strong private consumption, the Japanese economy was still facing increased headwinds from weakness in other major sectors, especially exporters. Strength in theThe middling GDP reading also raises some doubts over whether the Bank of Japan has enough headroom to raise interest rates further, especially in the face of heightened political uncertainty in the country after the Liberal Democratic Party’s recent election loss.
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