Japan's GDP grows for second successive quarter

Nov 15, 2024 | News On Japan

Nov 15, 2024 (NHK) - New government data show Japan's GDP grew for the second consecutive quarter in the three months through September.

The Cabinet Office released preliminary Gross Domestic Product figures for the July-to-September period on Friday. They show the economy expanded by an annualized 0.9 percent in real terms compared with the previous three months.

Personal spending also rose by 0.9 percent, marking the second straight quarter of increases. The growth came as automobile sales recovered from production suspensions caused by a falsified test data scandal.

Strong sales of beverages due to the extreme summer temperatures also contributed to the expansion.

Private consumption accounts for more than half of Japan's GDP.

Investments were sluggish, however. Corporate capital spending declined 0.2 percent.

That is because increased factory construction had pushed up investment in the previous quarter.

Another factor was a decrease in expenditure on semiconductor manufacturing equipment.

Meanwhile, private residential investment slipped 0.1 percent.

Landslide Hits Mount Fuji Fifth Station

A landslide struck a parking area at Mount Fuji's Fujinomiya fifth station in Shizuoka Prefecture shortly after midnight on September 9, sweeping up three parked vehicles but causing no injuries, prefectural authorities said.

Heavy Rain Intensifies From Tokai to Kanto

Heavy rain intensified across the Tokai and Kanto regions on September 9, with locally developed rain clouds bringing wind-driven downpours to Gifu Prefecture and steady rain to Tokyo, while forecasters warned that another round of strong rain could reach Kanto during the night.

Footage Shows Tokyo Flood Control Tunnel After Heavy Rain

Large volumes of floodwater poured into the Metropolitan Area Outer Underground Discharge Channel in Kasukabe, Saitama Prefecture, following heavy rain on September 7, prompting the massive underground flood-control facility known as the "Underground Temple" to go into operation.

Osaka Metro to Abolish Magnetic Tickets and Shift to QR Code Tickets

Osaka Metro plans to abolish magnetic tickets and replace them with QR code-based tickets around fiscal 2031, as declining use and the cost of maintaining conventional ticket gates accelerate the shift toward digital fare systems.

Tickets for Asian Games Selling Fast

Ticket sales for the Asian Games are gathering pace with less than two weeks until the competition begins, with more than 60% of tickets sold for the opening ceremony and 31 sports as of September 7, although organizers say seats remain readily available for events including soccer and baseball.

MEDIA CHANNELS

MORE Business NEWS

Rice Farmers Exit Business at Record Pace as Prices Fall

Closures and bankruptcies among Japanese rice farmers are running at a record pace in 2026, with 32 cases recorded from January through August as an aging workforce, rising costs and falling rice prices make it increasingly difficult for producers to remain in business.

Tokyo Stocks Lose Ground as Exporters Face Stronger Yen

Tokyo stocks edged lower on September 9, with the Nikkei 225 closing at 65,143, down 126.55 points, as a stronger yen and crude oil’s move toward $100 outweighed support from selected artificial intelligence and semiconductor-related shares.

Samsung Opens Semiconductor Research Center in Yokohama

South Korean semiconductor giant Samsung Electronics has begun full-scale operations at a new semiconductor research center in Yokohama, seeking to accelerate development and strengthen cooperation with Japanese suppliers as demand for chips used in artificial intelligence continues to grow.

Nikkei Drops 1,130 Points as Yen Surge Hits Exporters

Tokyo stocks fell sharply on September 8, with the Nikkei 225 closing at 65,269, down 1,130.51 points, or 1.70%, as a sudden surge in the yen hit exporters and forced investors to reassess the impact of faster Bank of Japan tightening on corporate earnings, equity valuations and the broader economy.

Yen Climbs to Six-Month High Near 152 Against Dollar

The yen strengthened to around 152 against the dollar on September 8, reaching its strongest level in about six months after gaining nearly 7 yen in roughly a week as investors focused on prospects for a narrowing interest-rate gap between Japan and the United States.

Japan's Real Wages Rise 2.4% in July for Seventh Straight Gain

Japan's inflation-adjusted real wages rose 2.4% in July from a year earlier, marking a seventh consecutive monthly increase as higher base salaries and easing price pressures improved workers' purchasing power.

Headwinds for Rakuten Mobile as KDDI Ends Roaming

Rakuten Mobile faces a new test of its network quality after KDDI decided to scale back roaming support from September 2026, ending access to its network in areas where Rakuten already has its own base stations while continuing service in mountainous and sparsely populated regions.

Homebuyers Grow Anxious as Japan's Mortgage Rates Rise

Japanese homebuyers are facing growing uncertainty as mortgage costs rise alongside a sharp increase in interest rates, with the yield on the benchmark 10-year government bond briefly topping 3% last week for the first time in about 30 years.

< 2 3 4 5 >