Japanese economy grew 0.5 percent in the third quarter of 2013, down from 0.9 percent reported in the previous three months, as weaker consumer spending and drop in exports outweighed a strengthening in residential investment.
From July to September, domestic demand contributed 0.9 percentage point to the growth up from 0.8 percent contribution in Q2. Private demand expanded 0.7 percent and public demand grew 1.6 percent. Private residential investments rose 2.7 percent. Capital expenditure growth slowed to 0.2 percent.
Exports of goods and services declined 0.6 percent (subtracting 0.1 percentage point from growth) and imports rose 2.2 percent (subtracting 0.4 percentage point from growth).
The third-quarter gross domestic product figure translated into an annualised increase of 1.9 percent, down from 3.8 percent recorded in Q2, but above market expectations.
11/14/2013 1:08:58 AM