Japan GDP expands by 0.3% in third quarter, snapping two quarters of year-on-year declines

Japan’s third-quarter real gross domestic product grew by 0.3% year on year, ending two consecutive quarters of decline, as reported by government data. The Bank of Japan raised rates to 0.25% in July, signaling a potential cooling effect on the economy. Despite a 0.2% quarter-on-quarter GDP increase and a 0.9% annualized expansion, the growth rate was lower than the previous quarter’s 2.9% rise.

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