Ja­pan ex­tends eco­nomic growth streak

Honolulu Star-Advertiser - - BUSINESS - Star-Ad­ver­tiser staff and news ser­vices

TOKYO >> Ja­pan has ex­tended its growth streak for an­other quar­ter. The Ja­panese econ­omy grew for a sev­enth con­sec­u­tive quar­ter — the long­est streak in nearly two decades — ac­cord­ing to gov­ern­ment data re­leased Wed­nes­day. Ja­panese busi­nesses have ben­e­fited from ris­ing global de­mand be­cause of an im­prov­ing global eco­nomic out­look, as well as from sus­tained fi­nan­cial stim­u­lus mea­sures from the gov­ern­ment and the cen­tral bank. Un­em­ploy­ment is at a mul­ti­decade low, the stock mar­ket is buoy­ant and even the coun­try’s long­time eco­nomic neme­ses — per­sis­tent wage and price de­fla­tion — have eased.

Gross do­mes­tic prod­uct in­creased 1.4 per­cent in an­nu­al­ized terms in the three months through Septem­ber, the Cabi­net Of­fice said in the pre­lim­i­nary es­ti­mate pub­lished Wed­nes­day. The econ­omy has been ex­pand­ing since the start of 2016, the long­est streak of growth since one that be­gan in 1999.

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