Japan’s gross domestic product (GDP) grew in October-December as solid domestic consumption and business investment offset weak exports.
The economy expanded at an annualized 1.4 percent rate in the fourth quarter, according to preliminary data released by the Cabinet Office earlier today. The GDP print was in line with the forecast by economists.
The expansion, however, was not strong enough to compensate for the 2.5 percent drop registered in the third quarter, as export growth remained weak due to anemic demand conditions in China.
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