TOKYO: Japan’s economy was expected have grown for a seventh straight quarter in July-September, a period of unbroken expansion last seen between 1999 and 2001, a Reuters poll found on Friday.
Gross domestic product (GDP) is expected to have grown at an annualized rate of 1.3 percent in the third quarter, the poll of 20 analysts showed.
That result would mark a seventh straight growth quarter, the longest period of expansion since an eight-quarter run from April-June 1999 to January-March 2001.
Quarter-on-quarter growth of 0.3 percent is expected after a revised 0.6 percent rise in the second quarter.
“Consumer spending was seen stalling in July-September but export growth likely supported solid economic expansion,” said Atsushi Takeda, chief economist at Itochu Economic Research Institute.
The poll found that private consumption, which accounts for roughly 60 percent of GDP, probably slipped 0.4 percent in the third quarter, the first fall in seven quarters.
External demand — or exports minus imports — was seen contributing 0.4 percentage point to growth, the poll found, after it subtracted 0.3 percentage point from GDP growth in April-June.
Capital spending was seen rising 0.3 percent in the third quarter, growing for a fourth straight quarter, following a 0.5 percent rise the previous quarter.
“We forecast the economy will continue to grow as both domestic and external demand pick up thanks to the global economic recovery and a softer yen,” said Hidenobu Tokuda, senior economist at Mizuho Research Institute.
“But there is downside risk from the Chinese economy and we also need to closely monitor geopolitical risk from the North Korean situation,” he said.
The Cabinet Office will announce the GDP data on November 15 at 850am.
The Bank of Japan’s corporate goods price index (CGPI), which measures the prices companies charge each other for goods and services, was seen likely to have risen an annual 3.1 percent in October, the poll found.
Such a result would mark a 10th straight rising month and the fastest annual rate of increase since October 2008, excluding the effect of a sales tax hike in 2014.
The central bank will release the CGPI data on November 13 at 850am Japan Time.
Japan’s economy set to show 7 straight growth quarters
Japan’s economy set to show 7 straight growth quarters
Closing Bell: Saudi main index slips to close at 11,228
RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, lost 23.17 points, or 0.21 percent, to close at 11,228.64.
The total trading turnover of the benchmark index was SR2.99 billion ($797 million), as 170 of the stocks advanced and 82 retreated.
On the other hand, the Kingdom’s parallel market Nomu gained 449.38 points, or 1.90 percent, to close at 24,093.12. This comes as 43 of the stocks advanced while 27 retreated.
The MSCI Tadawul Index lost 6.07 points, or 0.40 percent, to close at 1,511.36.
The best-performing stock of the day was Obeikan Glass Co., whose share price surged 7.54 percent to SR27.66.
Other top performers included Alamar Foods Co., whose share price rose 6.80 percent to SR47.10, as well as Saudi Kayan Petrochemical Co., whose share price climbed 6.79 percent to SR5.66.
Saudi Investment Bank recorded the steepest drop, falling 3.21 percent to SR13.56.
Jahez International Co. for Information System Technology also saw its share price fall 3.15 percent to SR13.55.
Rabigh Refining and Petrochemical Co. declined 2.78 percent to SR7.34.
On the announcements front, Tanmiah Food Co. reported its annual financial results for the period ending Dec. 31. According to a Tadawul statement, the company recorded a net loss of SR18.8 million, compared with a net profit of SR95.8 million a year earlier.
The net loss was mainly due to ongoing market challenges that resulted in continued pricing pressures in fresh poultry, inflationary cost pressures, higher financing expenses, and depreciation and ramp-up costs from new facilities, partially offset by increased production volumes and cost-optimization initiatives.
Tanmiah Food Co. ended the session at SR58.20, up 3.72 percent.
United International Holding Co., also known as Tas’heel, announced its annual financial results for the period ending Dec. 31. A bourse filing showed the company recorded a net profit of SR273.64 million in 2025, up 23.05 percent from 2024, primarily driven by a 23.4 percent rise in revenues. The revenue growth helped lift gross profit by 23.7 percent.
Tas’heel ended the session at SR146.80, down 0.28 percent.
