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Economy

Japan's GDP rises 1.9% in September: JCER

Surge of shopping before tax hike spurs economic growth

Private consumption surged 3% in September as consumers hit the stores before Japan raised the consumption tax rate. (Photo by Kosaku Mimura)

TOKYO -- Japan's real gross domestic product gained 1.9% in September compared with the previous month, propelled by last-minute spending before the national consumption tax hike, the Japan Center for Economic Research said Monday.

Private consumption bounced 3% during the month as shoppers scrambled to stock up on goods before the tax rate rose to 10% from 8% on Oct. 1. This surge in consumer demand lifted GDP as a whole.

September's economic expansion outpaced the 1.5% increase recorded in March 2014, just a month before Japan's consumption tax was raised to 8% from 5%.

Capital expenditures also climbed 1.3% in September, underscoring how internal demand has driven economic growth.

 

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