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Japan's GDP goes up for seven straight quarters
In the third quarter Japan's economy managed to grow faster than anticipated because of sturdy exports. It has appeared to be the longest period of uninterrupted surge for more than a decade.
In July-September the Japanese economy extended at a 1.4% annualized rate, which is a bit above the median estimate for annualized surge of approximately 1.3%. That’s what Cabinet Office data reported on Wednesday.
It followed updated annualized surge of 2.6% in April-June.
Consumer spending shrank for the first time for seven quarters, although it’s believed to be just temporary due to the fact the Japanese economy is close to full employment that should drive domestic consumption in the nearer future. Ascending capital expenditure as well as exports are supposed to keep the Japanese economy rising, which should relieve some worries as for sluggish inflation.
Japan's potential surge rate accounts for 1%, so the outcomes for the third quarter demonstrate that the actual rate of surge is high enough.
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