With the return of tourists helping to offset a downturn in capital investment and exports, the Japanese economy grew by 0.6% annually in the fourth quarter of 2022, official statistics showed on Tuesday, rebounding from the previous quarter’s decline.
This figure marked an improvement over the previously reported third-quarter 2022 decline of 1% compared to the same period the previous year.
Annualized growth in private consumption was 2% in the fourth quarter, while growth in government demand was 1.3%.
Estimates for Japan’s economic growth in the fourth quarter were 2.0%, according to a Reuters poll of 18 economists.
