TOKYO, Feb. 14 (Xinhua) — The Japanese financial system expanded 1.1 p.c in 2022, in contrast with a 2.1 p.c enhance in 2021, authorities information confirmed on Tuesday.
According to preliminary information launched by the Cabinet Office, Japan’s actual gross home product for the yr 2022 got here to about 546 trillion yen (4.1 trillion U.S. {dollars}).
For the total yr, personal demand was up 2.4 p.c from the earlier yr as family consumption grew 2.2 p.c. Corporate capital funding additionally elevated 1.8 p.c, the info confirmed.
Meanwhile, exports of products and companies elevated 4.9 p.c, whereas imports in the identical class expanded 7.9 p.c, attributable to rising power prices and a weak yen, dragging down web exports.
In the ultimate quarter of 2022, the world’s third-largest financial system expanded an annualized 0.6 p.c, because the lifting of native COVID-19 restrictions boosted personal consumption, however the first enlargement in two quarters was a lot smaller than a median market forecast for a 2.0 p.c rise.