Japanese GDP rises real 4.8% in 3rd quarter

Japanese gross domestic product (GDP) rises 4.8 percent in the July-September quarter in real terms for the second consecutive quarter of expansion, confirming economic recovery after the global financial crisis, the government said Monday.

The economic rise comes after a 1.2 percent growth from the April-June quarter, the Cabinet Office said in a preliminary report.

In the latest quarter, consumer spending -- which makes up about 60 percent of Japanese GDP -- increased a real 0.7 percent from the April-July period.

Corporate capital spending rose 1.6 percent while public investment fell 1.2 percent.

Domestic demand, made up of these components among others, sent GDP up 0.8 percentage point from the previous three months. Demand from overseas drove GDP up 0.4 point.

GDP is the total value of goods and services produced domestically. Real GDP figures are adjusted for price and seasonal variations.

Despite the GDP growth in real terms, nominal GDP fell an annualized 0.3 percent in the reporting period, which corresponds to a 0.1 percent contraction from the previous quarter.

Source:Xinhua