TOKYO : Japan's economy likely grew in January-March at the fastest pace in three quarters, as spending in the services sector offset soft business activity, a Reuters poll showed.Japan has so far been spared major impact from deteriorating global economic conditions thanks in part to the services sector
TOKYO : Japan's economy likely grew in January-March at the fastest pace in three quarters, as spending in the services sector offset soft business activity, a Reuters poll showed.
The world's third-largest economy likely expanded by an annualised 0.7 per cent in the first three months of 2023, showed the median of 17 economist estimates. Such a growth rate would be the fastest since the 4.7 per cent of April-June 2022 and would follow expansion of just 0.1 per cent in October-December.
Private consumption, which makes up the majority of Japan's gross domestic product , likely grew 0.4 per cent in January-March, versus 0.3 per cent in the previous quarter, said economists polled by Reuters. Spending on goods has stalled due to a four-decade-high inflation rate, but a flock of tourists both domestic and international supported overall consumption growth.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Malaysia's Q1 GDP growth likely cooled on weak demand, exports - Reuters pollBENGALURU : Malaysia's economic growth probably slowed in the first quarter, hit by tepid consumption and declining exports, a Reuters poll of economists showed.The Southeast Asian economy probably expanded 4.8 per cent in the January-March quarter from a year ago, the median forecast of 21 economists pol
Read more »
Japan working towards opening of NATO liaison office in TokyoWASHINGTON: Japan is working towards the opening of a NATO liaison office in Tokyo, Japan's ambassador to the US Koji Tomita said on Tuesday (May 9). Tomita made the comment at an event hosted by the National Press Club in Washington when asked about a report in the Nikkei Asia this month saying that the U
Read more »
Japan working towards opening of Nato liaison office in TokyoNikkei Asia reported that Nato was planning to open its first office in Asia to facilitate consultations in the region. Read more at straitstimes.com.
Read more »
US man pleads guilty to Tokyo Games doping chargesNEW YORK: A man that US prosecutors charged with supplying performance-enhancing drugs to athletes at the Tokyo Olympics pleaded guilty on Monday (May 8), a spokesman for the US Attorney's Office Southern District of New York said. Eric Lira, 43, last year became the first individual charged under the Rodc
Read more »
4 held after S$980,000 heist at Tokyo luxury watch storeTOKYO — Four people were detained in Tokyo on Monday (May 8) after they smashed their way into a luxury watch shop and stole items worth over US$740,000 (S$980,000), local media said.
Read more »
Four held after failed heist in swanky Tokyo districtTOKYO: Four people were detained in Tokyo on Monday (May 8) after they smashed their way into a luxury watch shop and stole items worth more than US$740,000, local media said. The robbery in the upscale Ginza district was an unusual attempted heist in a country with famously low levels of crime.
Read more »