The outlook for Japan's export-driven economy did, however, slightly weaken due to indications of sluggish economic development in the U.S., Europe, and China, which increased concern regarding eventual winding down of the Bank of Japan's enormous monetary stimulus measures.
Japan's GDP growth was well above the market's average forecast, which had assumed a 0.7% annual growth rate. According to revised data for the Q4, GDP was falling by 0.1% annually in the last three months of last year.
Private consumption, which accounts for more than half of Japan's GDP, rose 0.6% in the reporting period from the previous quarter with an expected growth of 0.4% as the lifting of coronavirus restrictions boosted spending on services.
source: nikkei.com
Japan's GDP growth was well above the market's average forecast, which had assumed a 0.7% annual growth rate. According to revised data for the Q4, GDP was falling by 0.1% annually in the last three months of last year.
Private consumption, which accounts for more than half of Japan's GDP, rose 0.6% in the reporting period from the previous quarter with an expected growth of 0.4% as the lifting of coronavirus restrictions boosted spending on services.
source: nikkei.com