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Japan's economy grows 1.6% in Q4


DPA
Tokyo
Japan's economy grew at an annualised rate of 1.6 per cent in the last quarter of 2017, revised up from a preliminary estimate of 0.5 per cent, the government said Thursday.
The reading beat the 0.8-per-cent growth forecast by analysts surveyed by the Nikkei business daily and represented the eighth straight quarter of economic growth, the longest expansion in 28 years, the Cabinet Office said. The government also upgraded the country's economic growth in the July-to-September quarter to 2.4 per cent from 2.2 per cent estimated in February, according to a report released by the office.
In the October-to-December period, corporate capital spending climbed 1 per cent quarter-on-quarter, revised up from an initial figure of 0.7 per cent reported a month ago and unchanged from the previous quarter, the office said.
Private consumption, a major component of output, rose 0.6 per cent in the October-to-December period, also upgraded from a preliminary reading of 0.3-per-cent, and up from the 0.2-per-cent increase in the third quarter, it said.
Exports rose 2.4 per cent, unchanged from an initial reading and up from a 2.1-per-cent rise in the previous quarter amid a weaker yen and signs of a global economic recovery.
In 2017, Japan's exports jumped 11.8 per cent from the previous year to 78.3 trillion yen (727 billion dollars), according to the Finance Ministry.
"Japan's economy is expanding moderately, with a virtuous cycle from income to spending operating,"the Bank of Japan said in a statement issued in late January.

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