Tuesday, 18 February 2014

Japan's economy grows less than expected

Japan's economy maintained growth in the fourth quarter of 2013 but at a slower-than-expected rate.

The economy grew 0.3 percent last quarter, the same rate as in the third quarter but below economists' consensus estimate of 0.7 percent.

Capital expenditure rose 1.3 percent, the fastest growth in two years, and private consumption grew 0.5 percent.

However, net exports subtracted 0.5 percentage point from growth.

Elsewhere in Asia, China released data over the weekend showing that banks lent 1.32 trillion yuan worth of new local-currency loans in January, the most in four years and nearly three times December's level.

Total social financing hit 2.58 trillion yuan, double the previous month's figure.

No comments:

Post a comment