Japan's third-quarter real gross domestic product expanded 0.3% year on year, snapping two straight quarters of year-on-year decline, according to government data released Friday.
The GDP reading marked a reversal from the revised 1.1% decline seen in the second quarter.
The data comes against the backdrop of the Bank of Japan raising rates from 0.1% to 0.25% in July — its highest level since 2008.
On a quarter-on-quarter basis, GDP rose 0.2%, in line with Reuters poll estimates, but lower than the 0.5% growth in the second quarter.
On an annualized basis, the economy expanded 0.9%, beating estimates of a 0.7% expansion.
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Bank of
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Bank of Japan