Japan’s economy grows unexpectedly strongly
November 16th, 2009 - 2:38 pm ICT by IANS
- Tokyo, Nov 16 (DPA) Japan’s gross domestic product (GDP) grew unexpectedly strongly in the third quarter at an annualised rate of 4.8 percent, the government said Monday.
The growth was the highest since 2007 and beat analysts’ expectations.
GDP grew 1.2 percent compared to the previous quarter.
The government said that the figures proved that the economic recovery is continuing.
Private consumption, which contributes to about 60 percent of the country’s economic performance, rose in the third quarter by 0.7 percent in real terms compared to the previous quarter.
Capital investment rose by 1.6 percent.
Domestic demand contributed to 0.8 percentage points of the 1.2 percent rise in GDP and foreign demand to 0.4 percentage points.
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