TOKYO, 9th December, 2024 (WAM) -- Japan's economy grew an annualised real 1.2 percent in the July-September quarter, revised up from an initially reported 0.9 percent, helped by stronger private sector investment and inventories, the Cabinet Office said Monday.
According to Kyodo News, real gross domestic product, adjusted for inflation, expanded 0.3 percent from the previous quarter, compared with the preliminary figure of 0.2 percent.
Capital investment, a key component of domestic demand, fell 0.1 percent in the July-September period, revised upward from a decline of 0.2 percent, buoyed by strong demand for semiconductors.
An upgrade in private-sector inventories, which reflect companies' production activities, contributed 0.2 percentage point to the economy's growth, compared with the previous 0.1 point, after stockpiles of crude oil were revised up.
Meanwhile, private consumption, which accounts for more than half of GDP, increased 0.7 percent, down from the earlier reading of 0.9 percent, due partly to sluggish auto sales.
Nominal GDP grew at an annualized 1.8 percent, slower than the preliminary reading of 2.1 percent.