The Japanese economy grew by 0.5 percent quarter-on-quarter in the three months to March 2019, easily beating market expectations of a 0.1 percent contraction and following a downwardly revised 0.4 percent advance in the previous period, a preliminary estimate showed. The expansion was mainly supported by net export gains, as imports fell faster than exports, while there were concerns about weak household consumption ahead of a looming sales tax rise. On an annualized basis, the economy grew by 2.1 percent in the first quarter, also defying market forecasts of a 0.2 percent contraction. GDP Growth Rate in Japan averaged 0.49 percent from 1980 until 2019, 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.
GDP Growth Rate in Japan is expected to be 0.70 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 0.40 in 12 months time. In the long-term, the Japan GDP Growth Rate is projected to trend around 0.50 percent in 2020, according to our econometric models.