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Japan expands for seventh consecutive quarter on strong exports

Posted by Ahmed Mamdouh On 11/15/2017 12:29:28 AM In FX_Graph

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.

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