Japan Economy Grows Lackluster 1 Pct In Oct-Dec

By: Associated Press Email
By: Associated Press Email

TOKYO (AP) - Japan's economy expanded at a slower-than-expected 1 percent annualized rate in the last quarter of 2013, despite a boom in housing construction and stronger public and private spending.

The data released Monday showed a 0.3 percent expansion from the previous quarter, adjusted for inflation.

It was the fourth straight quarter of expansion since the economy emerged from recession in late 2012. But the lackluster data will raise pressure for Japan's central bank to step up already massive monetary stimulus ahead of a sales tax hike on April 1.

Economists expect the tax hike to cause the economy to contract in April-June after expanding in this quarter, as consumers tighten their belts to compensate for higher prices.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KOLO-TV 4850 Ampere Drive Reno, NV 89502
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 245768761 - kolotv.com/a?a=245768761