Japan GDP Growth Rate

Japan's GDP grew by 0.2% quarter-on-quarter in Q3 2024, moderating from a downwardly revised 0.5% increase in Q2 while aligning with market forecasts, preliminary data showed. The latest result marked the second consecutive quarterly expansion, yet highlighted a fragile economic recovery amid growing external headwinds. Business investment shrank by 0.2%, following a robust expansion of 0.9% previously, in line with expectations. Concurrently, net trade subtracted 0.4 percentage points, as exports (0.4% vs 2.6%) rose much less than imports (2.1% vs 2.9%). At the same time, private consumption, which accounts for more than half of the economic output, rose further (0.9% vs 0.7% in Q2), easily exceeding the consensus of a 0.2% growth, driven by rising wages. Meanwhile, government spending logged its third straight quarter of rise (0.5% vs 0.1%), reflecting efforts to mitigate the impact of natural disasters during the summer.