MADRID, 14 Feb. (EUROPA PRESS) –
Japan’s gross domestic product (GDP) registered an expansion of 1.1% in the whole of 2022, below the growth rate of 2.1% the previous year, despite the fact that the world’s third largest economy managed to avoid the technical recession in the fourth quarter of last year, with an advance of 0.2%, after the contraction of 0.3% in the third quarter.
According to data published by the Cabinet Office of the Government of Japan, growth in 2022 is due to the evolution of private household consumption, responsible for 60% of GDP, which last year grew by 2.1% compared to the advance from 0.4% in 2021.
On its side, government spending slowed its growth in 2022 to 1.5%, after the increase of 3.5% in 2021 and 2.4% in 2020, when the country had to implement support measures against the pandemic. from Covid-19.
During the fourth quarter of 2022, Japanese household private consumption spending increased by 0.5%, after remaining flat in the third quarter, while government spending grew by 0.3%, two tenths more than in the first quarters. three previous months.
