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Japan's GDP Grows Annualized Real 2.8% in Oct.-Dec.

Japan's GDP Grows Annualized Real 2.8% in Oct.-Dec.
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Alsharq Tribune-AFP 

Japan's economy grew an annualized real 2.8 percent in the October-December period of 2024.

Nominal gross domestic product, which shows the size of the economy in current prices, totaled 609.29 trillion yen about ($4.01 trillion), surpassing the 600 trillion yen mark for the first time on a calendar year basis, Official data showed.

In 2024, real GDP, which is adjusted for inflation and shows the total value of goods and services produced in a country, grew 0.1 percent, marking the fourth straight yearly gain, according to Japan's News Agency (KYODO).

But the pace of growth slowed sharply from 1.5 percent in 2023, as Japanese households struggled to cope with the rising cost of living without substantial gains in real wages.

 

The Bank of Japan, for its part, has kept expectations high that it will deliver another interest rate increase after its second hike in the most recent cycle in January.

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