Japan's GDP rebounds 2.3% in Q4, analysts estimate

Reopening from pandemic lifts spending, with exports also expected to rise

Containers and container ships at the port of Kobe. Strong exports are believed to have contributed to Japan's economic growth last quarter. (Photo by Hiromasa Matsuura)

YOHEI MATSUO and KOHEI SAKAI, Nikkei staff writers

February 1, 2023 03:17 JST

TOKYO -- Japan's economy staged a recovery in the fourth quarter on the strength of consumer spending and exports after a decline during the previous three months, a Nikkei survey of private-sector economists shows.

Real gross domestic product grew an estimated 2.3% on an annualized basis in the October-December period compared with the previous quarter, according to the average among 10 analysts. Their growth estimates ranged from 1% to 4.1%.