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Financial News: Japan GDP Expands 0.3% In Third Quarter

Japan GDP Expands 0.3% In Third Quarter

11/14/2017 - 20:31:00 (RTTNews)

(RTTNews) - Japan's gross domestic product advanced a seasonally adjusted 0.3 percent on quarter in the third quarter of 2017, the Cabinet Office said in Wednesday's preliminary reading.

That was shy of expectations for a gain of 0.4 percent and down from 0.6 percent in the second quarter.

On an annualized basis, GDP gained 1.4 percent - again missing expectations for 1.5 percent and down from the upwardly revised 2.6 percent increase in the three months prior (originally 2.5 percent).

Nominal GDP gained 0.6 percent on quarter - in line with expectations and unchanged from the previous quarter.

The GDP deflator gained 0.1 percent on year, matching forecasts following the 0.4 percent decline in the second quarter.

Private consumption fell 0.5 percent on quarter, missing expectations for a decline of 0.4 percent following the 0.7 percent gain in the previous three months.

Business spending was up 0.2 percent on quarter, missing forecasts for a gain of 0.3 percent and down from 0.5 percent in the three months prior.

The Japanese economy has now expanded in seven straight quarters, the first such streak in more than three years.

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