Japan GDP slips 0.1% in November, no thanks to food price rises: JCER

Increased tourist spending helped to lift a fall in domestic consumer demand

The rising prices of staples, such as rice and vegetables, are causing Japanese consumers to rein in spending elsewhere. (Photo by Satoko Kawasaki)

Nikkei staff writers

January 15, 2025 20:44 JST

TOKYO -- Japan's economy contracted an annualized 0.1% in November from the previous month, as consumers reined in spending to offset food price inflation, according to an estimate released by the Japan Center for Economic Research on Wednesday.

The think tank maintained its projection that Japan's gross domestic product will expand an annualized 0.4% in the October-December quarter from the previous three months.