The revised value of GDP = Gross Domestic Product from October to December last year showed a real growth rate of +0.1% when converted to an annual rate.
Personal consumption has been sluggish, and it has been revised downward from the preliminary figures announced last month.
On the 9th, the Cabinet Office announced the revised GDP figures for October to December last year, and the real growth rate excluding price fluctuations was +0.02% compared to the previous three months.
Converted to an annualized rate of 0.1%, this is a downward revision from the preliminary figure of 0.6% announced last month.
GDP growth remained positive for the first time in two quarters.
Looking at the breakdown,
``Personal consumption'', which accounts for more than half of GDP, increased by 0.3% compared to the previous three months, a downward revision from the preliminary estimate of 0.5%.
During this period, consumption of services such as travel and lodging recovered, but the main reason for this was that eating out and car purchases were lower than the preliminary figures, as a result of reflecting the latest statistics.
On the other hand,
▽ "Exports" was revised upwards from the preliminary figure of +1.4% to +1.5% compared to the previous three months.
As for the future, while service consumption and inbound demand are expected to recover, prices of food and other items are expected to remain high for a prolonged period.
The challenge is whether we can maintain positive growth without a decline in consumer spending.