Japan’s Consumer Spending Grows

Japan’s GDP (Gross Domestic Product) from July to September 2024, announced by the Cabinet Office, showed positive growth for the second consecutive quarter.

In real terms, excluding price changes, it was up 0.2% from the previous quarter, or 0.9% on an annualized basis.

Personal consumption, which accounts for more than half of GDP, was plus 0.9%, boosted by a pickup in car shipments, which had been stagnant, and increased purchases of beverages in the summer heat wave.

While prices remained high, personal consumption is believed to have been strong due to an improved income environment resulting from higher wages.

On the other hand, a decline in the number of foreign visitors to Japan led to a decrease in “exports” and a negative impact on “capital investment,” resulting in modest overall growth.

(source) https://news.yahoo.co.jp/articles/32e6441be386d79f6e0384482701f0890c943e1a