Japan's February GDP grows 1.8% on tourism recovery: JCER

Exports of goods and services, private consumption lead economy

20230411 Tourists in Tokyo's Asakusa area

Visitors crowd Tokyo's popular Asakusa district in mid-February, with Japan's tourist industry kicking back into gear in the wake of the coronavirus pandemic. (Photo by Yo Inoue)

Nikkei staff writers

April 11, 2023 16:44 JST

TOKYO -- Japan's gross domestic product grew 1.8% in February from the previous month on a seasonally adjusted basis, according to estimates form the Japan Center for Economic Research, expanding for the first time in three months as inbound tourism gets back on track.

Based on the average figures for the first two months of 2023, the think tank now expects an annualized 3.0% contraction for the January-March quarter from the October-December period.