Japanese GDP advanced 0.6 percent in the last three months of 2014, following two consecutive quarters of contraction. The expansion came below market expectations as gains in exports and private consumption disappointed.
Private demand rose 0.4 percent adding 0.3 percentage point to the growth. Private consumption, which accounts for about 60 percent of the economy, rose only 0.3 percent, the same as in the previous quarter, a sign that an increase in Japan's sales tax continued to take a toll. Housing investment decreased 1.2 percent while capital spending remained unchanged.
Public demand increased 0.1 percent and did not impact the expansion. Government consumption and public investment grew 0.1 and 0.6 percent respectively.
The net exports added 0.2 percentage point to the growth as external demand (2.7 percent) rose faster than imports (1.3 percent)
The fourth quarter gross domestic product figure translated into an annualised expansion of 2.2 percent.
2/16/2015 12:35:13 AM