In the third quarter of 2024, Japan's gross domestic product (GDP) grew by a seasonally adjusted 0.3 percent from the previous quarter, surpassing the anticipated rise of 0.2 percent, as reported by the Cabinet Office on Monday. This follows an upward revision of 0.5 percent growth in the preceding three months, originally recorded at 0.2 percent.
On an annualized basis, the GDP increased by 1.2 percent, outperforming expectations of a 0.9 percent rise, which would have indicated no change.
While capital expenditure dropped by 0.1 percent for the quarter, it still surpassed predictions of a 0.2 percent decline, maintaining the same rate as in the second quarter. External demand decreased by 0.1 percent over the quarter. Meanwhile, the GDP price index rose by an annual rate of 2.4 percent, and private consumption experienced a quarterly increase of 0.7 percent.
