World Many countries are facing big challenges at this time. Due to this the pace of their economy is slowing down. Let us tell you that Britain's economic growth has declined in the third quarter (July-September). According to the data released by the National Statistics Office on Friday, the growth rate in the July-September period was only 0.1 percent. This is lower than the 0.5 percent growth in the last three months (April-June) and also lower than the market expectation of 0.2 percent. Japan's economy grew for the second consecutive quarter on the back of consumer spending and its growth rate in July-September was 0.9 percent.
'Labor Party' made economic growth the goal
The Labor Party, which took power for the first time in 14 years in July, has made economic growth its first priority in the next five years. The Labor Party came to power just four months ago. The proposed Free Trade Agreement (FTA) between Britain and India is expected to be approved after the Labor Party comes to power.
Japan fourth economy of the world
This came to light in the government data released on Friday. Japan, the world's fourth largest economy, grew at the rate of 0.5 percent in the April-June quarter of fiscal year 2024-25. According to preliminary data from the Cabinet Office, domestic demand grew at an annual rate of 2.5 percent. Private consumption grew 3.6 percent on the back of healthy domestic consumption, which makes up more than half of Japan's gross domestic product, while exports rose 1.5 percent.
Benefited from weakening of yen
The weakening of the yen is beneficial for exports, as it is making Japanese products cheaper abroad. However, its impact in the last quarter was relatively limited. Earlier this year the Japanese yen was trading at the 160-yen level. It is now trading at the 150-yen level. “We believe the Japanese economy will continue to grow slowly, supported by growth in overseas economies,” said Katsutoshi Inadome, senior strategist at Sumi Trust.
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