Japan's economy grows 2.8 percent

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Japan's economy grows 2.8 percent

[17/02/2025 06:40]

TOKYO-SABA
Japan's economy grew 2.8 percent year-on-year from October to December.

Official data showed today, Monday, that nominal Gross Domestic Product (GDP), which shows the size of the economy at current prices, reached 609.29 trillion yen (£4.01 trillion), surpassing the 600 trillion yen barrier for the first time on a calendar year basis in 2024.

Real GDP, adjusted for inflation and showing the total value of goods and services produced, grew by 0.1 percent, marking the fourth consecutive annual gain, but the pace of growth slowed sharply from 1.5 percent in 2023 as Japanese households struggled to cope with the rising cost of living without significant gains in real wages.