The Wall Street Journal: Japan GDP growth streak extends to longest stretch in 16 years

TOKYO — Japan’s economy grew at an annualized pace of 1.4% in the July-September quarter, marking its longest growth streak in 16 years with help from stronger global demand.

The growth for the seventh straight quarter is welcome news for Prime Minister Shinzo Abe, who won a new mandate from voters in a national election on Oct. 22 to continue pushing the world’s third-largest economy out of years of economic malaise. But private consumption fell an annualized 1.8% in the quarter, showing how his economic policies have yet to rouse consumers.

Gross domestic product growth for the three-month period through September was the same as a 1.4% increase expected by economists polled by The Wall Street Journal. The expansion was largely driven by exports, which rose an annualized 6% in the quarter.

Since Abe took office in late 2012, he has been trying to end years of sluggish growth and deflation through his Abenomics policy package, which is aimed at getting the economy into a cycle of rising wages, spending and inflation. Recently, a weaker yen and a stronger economy in key markets such as China and the U.S. have boosted corporate earnings to a record high.

An expanded version of this report appears on WSJ.com.

Also popular on WSJ.com:

U.S. Catholic leaders signal resistance to pope’s agenda.

The fanny pack has returned. Now cheer. Or cringe.

Filed in: Top News Tags: 

You might like:

The Wall Street Journal: Whitefish halts Puerto Rico power repairs over $83 million in unpaid bills The Wall Street Journal: Whitefish halts Puerto Rico power repairs over $83 million in unpaid bills
NewsWatch: This chart on research productivity is bad news for the stock market NewsWatch: This chart on research productivity is bad news for the stock market
How to talk to your family about bitcoin at Thanksgiving dinner How to talk to your family about bitcoin at Thanksgiving dinner
Market Extra: Bitcoin breaks $8,000 milestone and keeps on rising Market Extra: Bitcoin breaks $8,000 milestone and keeps on rising
The Wall Street Journal: Justice Department sues AT&T, Time Warner over potential merger The Wall Street Journal: Justice Department sues AT&T, Time Warner over potential merger
The Wall Street Journal: Shares of Outback Steakhouse parent surge after Jana discloses large stake The Wall Street Journal: Shares of Outback Steakhouse parent surge after Jana discloses large stake
One major way U.S. credit-card debt is getting worse One major way U.S. credit-card debt is getting worse
Amazon’s sketchy health products could hurt its big pharmacy ambitions Amazon’s sketchy health products could hurt its big pharmacy ambitions

Leave a Reply

Submit Comment
© 2017 Stock Investors News. All rights reserved. XHTML / CSS Valid.