Japan’s economy expands 2.2% in Q3, beating estimates

According to media reports, the Cabinet Office reported that the Japanese economy, which is the third-largest economy in the world, expanded 2.2% in the July-September period when compared to last year after a 0.7% rise in Q2. The recent growth rate exceeded economists’ expectations which called for a 0.9% increase on the year for Q3.

It is reported that Japan’s economy grew 0.5% in the third quarter on a quarter over quarter basis due to strong exports despite the slack consumer spending, beating forecasts which called for a rise of 0.2%. Exports were up 2.0%, posting the fastest increase in a year.

Japan’s economy rose 0.5% and 0.2% on a quarterly basis in Q1 and Q2, respectively following a contraction in the last three months of last year.

Government data shows that there is uncertainty in the global economic outlook due to the win by Donald Trump in the U.S. presidential election. Despite the growth in 2016, risks remain from Trump’s and China’s trade policies.