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Japan said Thursday that growth halved in the three months to September, a worrying sign for Tokyo's bid to kick-start the world's third-largest economy.
Official data showed the economy expanded by 0.5 percent in the quarter, slightly higher than economists' expectations but a marked slowdown from 0.9 percent growth in the previous quarter.
On an annualised basis, growth slumped to 1.9 percent from 3.8 percent in the previous three months -- showing the pace of growth if the data were stretched across a full year.
The earlier growth outcome was largely a result of a boost in exports owing to a sharply weaker yen, while stubbornly low consumer spending also showed signs of picking up.
The long-lagging economy has lately been outpacing other G7 economies as a policy blitz led by Prime Minister Shinzo Abe, dubbed "Abenomics", helped drive down the currency and stoked optimism over Japan's prospects.
However, analysts have been warning that the program -- a mix of big government spending and central bank monetary easing -- was not enough on its own without promised economic reforms which have yet to be seen. (AFP)
Official data showed the economy expanded by 0.5 percent in the quarter, slightly higher than economists' expectations but a marked slowdown from 0.9 percent growth in the previous quarter.
On an annualised basis, growth slumped to 1.9 percent from 3.8 percent in the previous three months -- showing the pace of growth if the data were stretched across a full year.
The earlier growth outcome was largely a result of a boost in exports owing to a sharply weaker yen, while stubbornly low consumer spending also showed signs of picking up.
The long-lagging economy has lately been outpacing other G7 economies as a policy blitz led by Prime Minister Shinzo Abe, dubbed "Abenomics", helped drive down the currency and stoked optimism over Japan's prospects.
However, analysts have been warning that the program -- a mix of big government spending and central bank monetary easing -- was not enough on its own without promised economic reforms which have yet to be seen. (AFP)
