The Japanese economy shrank an annualized 28.1 percent on quarter in the three months to June of 2020, slightly more than initial estimates of a 27.8 percent fall. It is the biggest slump on record, reflecting the severe impacts caused by the COVID-19 crisis. Private spending went down 28.2 percent; residential investment went down 2 percent and non-residential one plunged 17.5 percent. Also, government consumption declined 2.3 percent although public investment rose 4.6 percent. Exports sank 56 percent and imports declined 1.9 percent.
GDP Growth Annualized in Japan averaged 1.77 percent from 1980 until 2020, reaching an all time high of 12.90 percent in the fourth quarter of 1989 and a record low of -28.10 percent in the second quarter of 2020. This page provides the latest reported value for - Japan GDP Growth Annualized - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Japan GDP Growth Annualized - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020. source: Cabinet Office, Japan
GDP Growth Annualized in Japan is expected to be -7.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Annualized in Japan to stand at 5.00 in 12 months time. In the long-term, the Japan GDP Growth Annualized is projected to trend around 3.40 percent in 2021 and 2.20 percent in 2022, according to our econometric models.