Japan Economy Grows 2.8％ in 4th Quarter

Jiji Press

15:25 JST, February 17, 2025

TOKYO (Jiji Press) — Japan’s economy grew at an annualized rate of 2.8% in price-adjusted real terms in October-December after seasonal adjustment, expanding for the third straight quarter on a rebound in capital spending, the Cabinet Office said in a preliminary report on Monday.

For the whole of 2024, the country’s gross domestic product rose 0.1% from the previous year. In nominal terms, GDP grew 2.9% to ¥609,288.7 billion , exceeding ¥600 trillion for the first time on a full-year basis.

In the fourth quarter, private consumption rose 0.1% from the previous quarter in real terms, growing for the third successive quarter.

Corporate capital spending expanded 0.5%. Housing investment rose 0.1%, while public investment declined 0.3%.

Japan’s exports rose 1.1%, while its imports fell 2.1%.

Domestic demand made a negative contribution of 0.1 percentage point to the quarter-to-quarter GDP growth rate of 0.7%, while external demand made a positive contribution of 0.7 point.