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Japan's Economy Shows Mixed Signals Amid Rising Consumption

2024-11-17 17:48:24.504000

Japan's economy expanded by an annualized rate of 0.9% in the third quarter of 2024, a slowdown from the 2.2% growth seen in the previous quarter. This growth was primarily driven by a surprising increase in private consumption, which rose by 0.9%, exceeding the forecast of 0.2%. Despite this positive consumer trend, capital spending fell by 0.2%, indicating potential weaknesses in business investment. Economist Kengo Tanahashi noted that the rise in consumption was unexpected, suggesting that households are beginning to spend more despite the economic headwinds. The risks posed by the economies of the U.S. and China may impact Japan's export performance moving forward. The data aligns with the Bank of Japan's expectations for a gradual increase in interest rates as the central bank continues to navigate the complexities of global economic conditions. This comes amid ongoing concerns over inflation and a fluctuating yen, which has seen significant depreciation against major currencies. [15b8c977][2ace6555][7d3cfa66]

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