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Principale » Japan's growth streak starts to look shakier

Japan's growth streak starts to look shakier

15 Novembre 2017

The economy is in its longest period of expansion since 2001.

The statistics, which are preliminary and seasonally adjusted, contrast with a revised 2.6 percent growth rate in the previous quarter.

That was shy of expectations for a gain of 0.4% and down from 0.6% in the second quarter.

However, the figure represented a slowdown from the previous quarter where gross domestic product (GDP) grew by 0.6 percent as a recovery in private consumption could not maintain its momentum. In annualized terms, it fell 1.8 percent.

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All in all, Japan's economy has been doing well lately, mainly on the back of surging exports including smartphone parts and memory chips.

"The bigger picture is that wages are not rising any faster this year than they did last year even though the labor market has continued to tighten", Capital Economics said in a recent report.

Economists expect growth to slow in 2018-2019, partly because of limits to factory, logistics and hiring capacity and partly because of a sales tax hike promised for October 2019.

Japan's growth streak starts to look shakier