Japan’s economy expands 0.7% in fourth quarter, beating expectations

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Japan’s economy expands 0.7% in fourth quarter, beating expectations

Commercial and residential buildings at dusk in the Minato district of Tokyo, Japan.

Bloomberg | Bloomberg | Getty Images

Japan’s economic expansion in the fourth quarter beat analysts’ expectations for quarter-on-quarter and annualized growth, preliminary government data showed Monday.

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more than the 0.3% rise expected by economists polled by Reuters. It had expanded by a revised

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On an annualized basis, GDP grew 2.8%, exceeding the Reuters estimate of 1%.

The GDP data on Monday comes against the backdrop of Japan’s central bank raising rates to 0.5%, their highest level since October 2008, and offers it more room to stick with monetary tightening.

Japan’s household spending in December also supported the case for monetary tightening, rising 2.7% year on year in real terms, massively beating expectations from economists polled by Reuters and marking its first rise since July 2024.

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