Japan GDP Growth Annualized

The Japanese economy grew by 0.1% on an annualized basis during the fourth quarter of 2022, compared with the preliminary figure of a 0.6% expansion and after a revised 1.1% contraction in the previous period. The downward revision reflected multiple challenges the country faces, such as a global economic slowdown and high inflation. Both private consumption and government spending rose, amid a positive contribution from net trade as exports increased and imports fell. However, business investment dropped after advancing in the prior two quarters.