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In July-September the Japanese economy was expected to have surged for a seventh straight quarter. Such a period of unbroken expansion was last observed between 1999 and 2001, according to a Reuters survey found on Friday.
In the third quarter the country’s GDP is supposed to have ascended at an annualized rate of about 1.3%, as the survey of 20 market experts revealed.
The given outcome would mark a seventh straight surge quarter, which appears to be the longest period of growth since an eight-quarter marathon from April-June 1999 to January-March 2001.
Quarter-on-quarter surge of 0.3% is expected after an updated 0.6% soar in the second quarter.
Consumer spending was caught stalling in July-September, although export surge backed firm economic expansion, as experts explained.
The survey also discovered that private consumption, accounting for approximately 60% of GDP, went down 0.4% in the third quarter, which is the first dip for seven quarters.
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Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…
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