Economists Put Japan Oct.-Dec. GDP Growth at 1.1 Pct
Tokyo, Feb. 1 (Jiji Press)--Japan's real gross domestic product is estimated to grow 0.3 pct quarter on quarter in October-December 2024, for an annualized increase of 1.1 pct, according to the average estimate by 10 private think tanks.
The Cabinet Office is scheduled to release preliminary GDP data for the third quarter of fiscal 2024 on Feb. 17.
The third consecutive quarter of growth is expected mainly thanks to a "solid increase" in corporate capital spending, indicating a "continued moderate recovery" of the economy, said Shinichiro Kobayashi of Mitsubishi UFJ Research and Consulting Co.
By category, the think tanks projected a 0.2 pct decline in private consumption, the first fall in three quarters, after widespread stockpiling of goods in the July-September quarter, partly due to typhoons. Consumption was also dampened by rising vegetable, rice and other prices.
Meanwhile, capital spending is forecast to rise 1.2 pct, led by investment in machinery.
(2025/02/01-15:26)
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