2023-03-09 01:20:03 ET
- The Japanese economy stagnated quarter-on-quarter in the three months to December 2022, compared with a flash figure of 0.2% growth and after a 0.3% contraction in the previous period.
- The latest figure highlighted the fragility of a recovery in the economy, as private consumption grew less than initially anticipated amid rising cost pressures (0.3% vs 0.5% in the first estimate and after a flat reading in Q3).
- At the same time, capital spending fell for the first time in three quarters (-0.5%, matching the preliminary print and shifting from a 1.5% gain previously).
- Meanwhile, government spending increased further (0.3%, unrevised from the first estimate and after a 0.1% rise in Q3).
- Last year, the Japanese economy advanced 1.1%, slowing from 2.1% in 20211, amid various global headwinds.
- ETFs: JEQ , EWJ , DXJ , FXY .
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Japan Q4 GDP revised lower to show no growth, shows fragile recovery