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العربية
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15 November

By Ahmed Mamdouh

Category: FX Graph

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Japan expands for seventh consecutive quarter on strong exports

The Japanese economy posted its seventh consecutive quarterly gain, where robust exports dwarfed weak consumer spending.

The world’s third biggest economy expanded an annualized 1.4 percent in the third quarter, hitting the longest stretch of consecutive expansion since 2001. Yet, it cooled down from 2.6 percent from the previous quarter.

The quarter-on-quarter GDP reading came in at 0.3 percent, easing from a revised of 0.6 percent in the second quarter. Analysts had estimated a 0.4 percent growth.

Next exports (exports-imports) contributed with 0.5 percentage points to the GDP, while private consumption slipped 0.5 percent.

As of 07:26 GMT, the traded higher for a second straight session versus the U.S. dollar at 112.92 after opening today at 113.20.

Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at D1stp.com, with 9 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.