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Japan’s economy posts decades-best growth streak

TOKYO – Japan’s economy recorded its longest growth streak since its heyday in the late 1980s, after expanding into the last three months of 2017, the Prime Minister Shinzo Abe is succeeding in generating more stable growth. The world’s third-largest economy expanded at an annualized pace of 0.5% in the October-December quarter, but at a much slower pace than a revised 2.2% in the previous three months as the overall contribution to growth from trade weakened. Economists polled by The Wall Street Journal had expected the economy to expand by 0.9%. Quarter-on-quarter growth was 0.1%, compared with a 0.2% projection. While the data is being expanded, the figures have been reduced with a view of sustained expansion targeted by Japan’s economy. decades of stagnation. With the economy growing for its longest spell in 28 years, it is also important to be aware of the need for the Bank of Japan to support the economy with its ultraeasy monetary policy. Exports, one of the key engines of the Japanese economy, contributed to the growth of the economy. While trade has failed to grow, it has done so in previous quarters, a senior official firm said the increases in imports, such as smartphones from other parts of Asia, was another sign of strong demand at home. More expensive oil also contributed to the higher import bill. That left domestic consumption to lift growth. Private consumption, which accounts for roughly 60% of GDP, was up an annualized 0.5%, while capital expenditure rose 0.7%. Some analysts expect internal strength to continue leading the expansion down the road. Barclays analyst Yuichiro Nagai says there is considerable scope for an increase in capital spending. Write to Megumi Fujikawa at megumi.fujikawa@wsj.com

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