The Japanese economy shrank 0.6% on quarter in Q1 2020, compared with the preliminary estimate of a 0.9% contraction and market consensus of a 0.5% decline. This was the first recession since 2015, as the COVID-19 crisis took a huge toll on activity and demand. Private consumption fell slightly more than anticipated (-0.8% vs -0.7% in the preliminary estimate), while there was a significant upward revision of capital expenditure (1.9% vs -0.5%). Meantime, government spending was flat (vs 0.1% in the preliminary estimate), with public investment dropping for the first time in five quarters (-0.6%). At the same time, net external demand subtracted 0.2 percentage points from growth as exports (-6%) fell more than imports (-4.9%). On an annualized basis, the economy contracted 2.2 % in Q1, less than the initial reading of a 3.4% contraction and compared with consensus of a 2.1% fall.

GDP Growth Rate in Japan averaged 0.46 percent from 1980 until 2020, reaching an all time high of 3.20 percent in the second quarter of 1990 and a record low of -4.80 percent in the first quarter of 2009. This page provides - Japan GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Japan GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Cabinet Office, Japan

GDP Growth Rate in Japan is expected to be -4.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Japan to stand at 0.90 in 12 months time. In the long-term, the Japan GDP Growth Rate is projected to trend around 0.60 percent in 2021 and 0.50 percent in 2022, according to our econometric models.

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Japan GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.60 -1.90 3.20 -4.80 1980 - 2020 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-02-16 11:50 PM QoQ Prel Q4 -1.6% 0.1% -0.9% -0.9%
2020-03-08 11:50 PM QoQ Final Q4 -1.8% 0.0% -1.7% -1.6%
2020-05-17 11:50 PM QoQ Prel Q1 -0.9% -1.9% -1.2% -1.6%
2020-06-07 11:50 PM QoQ Final Q1 -0.6% -1.9% -0.5% -0.9%
2020-08-02 11:50 PM QoQ Final Q1 -1.9% -0.6%
2020-08-16 11:50 PM QoQ Prel Q2 -4.2%
2020-09-07 11:50 PM QoQ Final Q2 -4.2%
2020-11-15 11:50 PM QoQ Prel Q3 3.8%


News Stream
Japan GDP Contracts Less than Expected in Q1
The Japanese economy shrank 0.6% on quarter in Q1 2020, compared with the preliminary estimate of a 0.9% contraction and market consensus of a 0.5% decline. This was the first recession since 2015, as the COVID-19 crisis took a huge toll on activity and demand. Private consumption fell slightly more than anticipated (-0.8% vs -0.7% in the preliminary estimate), while there was a significant upward revision of capital expenditure (1.9% vs -0.5%). Meantime, government spending was flat (vs 0.1% in the preliminary estimate), with public investment dropping for the first time in five quarters (-0.6%). At the same time, net external demand subtracted 0.2 percentage points from growth as exports (-6%) fell more than imports (-4.9%). On an annualized basis, the economy contracted 2.2 % in Q1, less than the initial reading of a 3.4% contraction and compared with consensus of a 2.1% fall.
2020-06-07
Japan Economy Slips into Recession
The Japanese economy shrank 0.9 percent on quarter in the three months to March 2020, entering a recession for the first time since 2015 and compared with market expectations of a 1.2 percent decline, a preliminary estimate showed, as the COVID-19 crisis took a huge toll on activity and demand. There were declines in both private consumption (-0.7 percent vs -2.9 percent in Q4) and capital expenditure (-0.5 percent vs -4.8 percent), while government spending rose the least in a year (0.1 percent vs 0.2 percent) and public investment dropped for the first time in five quarters (-0.4 percent vs 0.5 percent). In addition, net external demand subtracted 0.2 percentage points from growth as exports fell more than imports.
2020-05-17
Japan GDP Contracts More than Anticipated
The Japanese economy shrank 1.8 percent on quarter in the three months to December 2019, compared to the preliminary estimate of a 1.6 percent contraction and market consensus of a 1.7 percent decline. This was the steepest GDP fall since the second quarter of 2014, as private consumption went down 2.8 percent, following October's sales tax hike. In addition, business spending tumbled 4.6 percent, the most since the first quarter of 2009, while government spending rose 0.2 percent, the least in three quarter, and public investment growth eased to a year low of 0.7 percent. Meanwhile, net external demand added 0.5 percentage points to growth as exports fell less than imports.
2020-03-09
Japan Economy Shrinks the Most Since 2014
The Japanese economy shrank 1.6 percent on quarter in the last three months of 2019, following a downwardly revised 0.1 percent growth in the previous three-month period and compared to market consensus of a 0.9 percent contraction, a preliminary estimate showed. It was the steepest fall in GDP since the second quarter of 2014, as private consumption fell 2.9 percent, the first period of decline in over a year following October's sales tax hike. In addition, business spending tumbled 3.7 percent, the most since the third quarter of 2018. Government spending rose at a softer pace (0.2 percent vs 0.7 percent), as well as public investment (1.1 percent vs 1.2 percent). Meanwhile, net external demand added 0.5 percentage points to growth as exports fell less than imports.
2020-02-17

Japan GDP Growth Rate
Japan's industrialized, free market economy is the fourth biggest in the world. Japan has the largest electronics industry and the third largest automobile industry in the world. Japan’s economy is well-known by its efficiency and competitiveness in exports oriented sectors, but productivity is lower in areas such as agriculture, distribution, and services.