Japan’s economy expands annualized 0.9 pct in July-September

TOKYO, Nov. 15 (Xinhua) — Japan’s economy grew an annualized 0.9 percent in July-September from the prior period, expanding for the second straight quarter, government data showed Friday.
In the third quarter of 2024, real gross domestic product, adjusted for inflation, increased 0.2 percent from the April-June period, the Cabinet Office said in a preliminary report.
Private consumption, which accounts for more than half of the economy, went up 0.9 percent, marking the second consecutive quarter of increase, as people spent more on cars, food and mobile phones, the report said.
Meanwhile, capital investment shrank 0.2 percent, after an expansion in the previous quarter.
Exports and imports increased by 0.4 percent and 2.1 percent, respectively, decreasing net exports.
In the second quarter, Japan’s GDP grew an annualized 2.2 percent, which was revised from the previous 2.9 percent. ■