Japan's Q3 GDP expands annualized 0.9% on rising consumption

Growth beats expectations but slows from revised 2.2% increase in previous quarter

20241114 Shinjuku

Pedestrians cross the street in central Tokyo. Consumption has been increasing in Japan. (Mayumi Tsumita)

AKANE OKUTSU, Nikkei staff writer

TOKYO -- Japan's economy grew an annualized 0.9% in the July-September period from the previous three months, according to preliminary government figures issued on Friday, marking the second consecutive quarter of expansion as consumption increases.

The latest real gross domestic product growth rate compares with a median forecast of a gain of 0.7% among economists surveyed by QUICK, a Nikkei group company. In the second quarter, GDP expanded an annualized 2.2%, which was revised from the previous 2.9%.

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