{"id":126047,"date":"2024-11-15T07:48:53","date_gmt":"2024-11-15T00:48:53","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=126047"},"modified":"2024-11-15T07:48:53","modified_gmt":"2024-11-15T00:48:53","slug":"japan-gdp-expands-by-0-3-in-third-quarter-snapping-two-quarters-of-year-on-year-declines","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=126047","title":{"rendered":"Japan GDP expands by 0.3% in third quarter, snapping two quarters of year-on-year declines"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107366418\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>Skyline of Tokyo, Japan.<\/p>\n<p>Jackyenjoyphotography | Moment | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Japan&#8217;s <a href=\"https:\/\/www.esri.cao.go.jp\/en\/sna\/data\/sokuhou\/files\/2024\/qe243\/pdf\/gaiyou2431_e.pdf\" target=\"_blank\" rel=\"noopener\">third-quarter real gross domestic product<\/a> expanded 0.3% year on year, snapping two straight quarters of year-on-year decline.<\/p>\n<p>The GDP reading marked a reversal from the revised 1.1% decline seen in the second quarter.<\/p>\n<p>The data comes against the backdrop of the Bank of Japan raising rates from 0.1% to 0.25% in July \u2014 its highest level since 2008.<\/p>\n<p>Higher policy rates generally cool the economy, and vice versa. The BOJ has <a href=\"https:\/\/www.boj.or.jp\/en\/mopo\/mpmsche_minu\/opinion_2024\/opi241031.pdf\" target=\"_blank\" rel=\"noopener\">stated<\/a> that it will continue to raise rates &#8220;if economic activity and prices develop as expected.&#8221;<\/p>\n<p>On a quarter-on-quarter basis, GDP rose 0.2%, in line with Reuters poll estimates.<\/p>\n<p>On an annualized basis, the economy expanded 0.9%, beating estimates of a 0.7% expansion. However, this was a sharp decline from the 2.9% rise in the quarter before.<\/p>\n<p>Should economic indicators fall into place, the BOJ said it could raise rates to 1% by the second half of its 2025 fiscal year, starting from September 2025.<\/p>\n<p>In October, Shigeru Ishiba, Japan&#8217;s prime minster, <a href=\"https:\/\/www.reuters.com\/markets\/asia\/bojs-ueda-says-unstable-markets-global-uncertainty-cause-vigilance-2024-10-02\/\" target=\"_blank\" rel=\"noopener\">reportedly said<\/a>\u00a0that &#8220;I do not believe that we are in an environment that would require us to raise interest rates further,&#8221; after meeting with BOJ governor Kazuo Ueda.<\/p>\n<p>This was in contrast to comments he\u00a0<a href=\"https:\/\/www.reuters.com\/markets\/rates-bonds\/japan-premier-candidate-ishiba-endorses-bojs-rate-hikes-2024-08-07\/\" target=\"_blank\" rel=\"noopener\">made in August<\/a>\u00a0to Reuters, where he said the BOJ was &#8220;on the right policy track&#8221; to normalize rates.<\/p>\n<p>Following the GDP data release, the benchmark Nikkei 225 rose 0.76%, while the broad-based Topix climbed 0.64%.<\/p>\n<p>The Japanese yen weakened 0.16% against the U.S. dollar after the GDP announcement, trading at 156.51.<\/p>\n<p>The yen has seen <a href=\"https:\/\/www.cnbc.com\/2024\/08\/23\/japanese-yens-safe-haven-tag-is-intact-despite-recent-volatility.html\">wild swings in the third quarter<\/a>, prompting multiple rounds of verbal warnings from finance ministry officials against &#8220;excessive speculation&#8221; and even <a href=\"https:\/\/www.cnbc.com\/2024\/07\/31\/japan-confirms-36point8-billion-yen-intervention-as-boj-hikes-rates.html\">interventions by the BOJ.<\/a><\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cnbc.com\/2024\/11\/15\/japan-gdp-expands-by-0point3percent-in-third-quarter-snapping-two-quarters-of-year-on-year-declines.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Skyline of Tokyo, Japan. Jackyenjoyphotography | Moment | Getty Images Japan&#8217;s third-quarter real gross domestic product expanded 0.3% year on year, snapping two straight quarters of year-on-year decline. The GDP &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=126047\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-126047","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/126047","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126047"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/126047\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}