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Japan logs 1% growth in 2016 as private demand stalls

Japan logs 1% growth in 2016 as private demand stalls

TOKYO: Japan’s economy expanded at a steadily slowing pace in 2016, though a modest recovery in exports helped offset sluggish spending by households and businesses, according to data reported Monday.

The 1.0 percent annual pace of expansion for the year compared with 1.2 percent growth in 2015. For all but one quarter of the year, private demand was flat or negative. And quarterly growth slowed to 0.2 percent in October-December, down from 0.6 percent in January-March.

The preliminary data released by the Cabinet office could be revised upward. But overall the report showed the challenges Japan’s planners are facing in trying to rekindle growth without much help from corporate investment or wage increases.