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Fri, 02/02/2024 - 08:03
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Japan Economy Projected to Have Grown 1.6 Pct in 4th Quarter

Tokyo, Feb. 1 (Jiji Press)--Japan's economy is projected to have grown at an annualized rate of 1.6 pct after inflation adjustment in the final quarter of 2023, according to the average estimate from 10 private-sector think tanks.

Exports are projected to have risen 2.1 pct from the previous three months thanks to strong auto exports and bullish spending by foreign tourists in Japan.

Mizuho Research & Technologies Ltd. said that the climb in exports is likely due to temporary factors, including a sharp rise in receipts of royalties for intellectual property rights in October.

Private consumption, a pillar of domestic demand, is estimated to have been flat due to consumer restraints amid higher prices. Capital investment is projected to have risen 0.6 pct, the first increase in three quarters.