Japan’s economy has longest period of growth for more than 10 years

17 Nov 17

Japan’s economy has experienced the longest period of uninterrupted growth in more than a decade, with faster growth than expected in the third quarter. 

The country expanded for seven quarters in a row, with a 1.4% annualised rate between July and September - slightly larger than the projected growth rate of 1.3%.

The growth was largely due to strong exports and global demand, which is expected to keep the economy growing in the future.

“Japan’s potential growth rate is around 1%, so the results for the third quarter show the actual rate of growth is quite high,” Hidenobu Tokuda, senior economist at Mizuho Research Institute told Reuters.

Gross domestic product grew 0.3% compared to the previous quarter.

The government is due to announce a number of economic measures by the end of the year aimed at increasing investment in skills training and raising productivity.

Prime minister Shinzo Abe has also been given credit for the economic growth, with his plans to kick-start the world’s third largest economy, known as “Abenomics”.

Abe announced last month after winning a new mandate that he would make education and childcare a priority over fiscal reforms.

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