Japan's October GDP Shrinks 0.1 Percent on Weak Consumption
Japan's economy contracted an annualized 0.1% in October from the previous month, reflecting declines in private consumption and goods exports, according to an estimate released by the Japan Center for Economic Research on Wednesday December 11.
Japan's economy contracted an annualized 0.1% in October from the previous month, reflecting declines in private consumption and goods exports, according to an estimate released by the Japan Center for Economic Research on Wednesday December 11. Unusually warm weather dragged down consumers' spending on clothing in the month, according to JCER.
The think tank now projects Japan's gross domestic product to expand an annualized 0.4% from the previous three months in the October-December quarter.
Meanwhile, Japan Economy Minister Akazawa commented on the revised Q3 GDP data saying while Japan has not emerged from deflation, a “virtuous cycle of wage hikes and passing-through of prices has begun”.
The Fed Has Made Its Final Rate Decision of the Year
U.S. Federal Reserve officials announced their third and final interest rate cut of 2024 on Wednesday, but investors were keenly focused on something else: where they see policy heading in 2025.
