The Japanese economy shrank 1.3% on quarter in Q1 2021, compared with market estimates of a 1.2% fall and after a 2.8% growth in the previous period, a preliminary reading showed. This was the first contraction since Q2 2020, amid a resurgence of COVID-19 cases and slow vaccine rollouts. Private consumption fell for the first time in three quarters (-1.4% vs 2.2% in Q4), government spending dropped for the first time in a year (-1.8% vs 1.8), and public investment declined for the first time in seven quarters (-1.1 percent vs 1.1 percent). Also, capital expenditure shrank 1.4 percent, swinging from a 4.3 percent growth in Q4. At the same time, net external demand subtracted 0.2 percentage points from growth as exports rose 2.3% while imports grew at a faster 4%. On an annualized basis, the economy contracted 5.1% in Q1, worse than consensus of a 4.6% drop and reversing from an 11.6% expansion in Q4. source: Cabinet Office, Japan
GDP Growth Rate in Japan averaged 0.44 percent from 1980 until 2021, reaching an all time high of 5.30 percent in the third quarter of 2020 and a record low of -8.30 percent in the second quarter of 2020. 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 May of 2021.
GDP Growth Rate in Japan is expected to be 1.50 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 0.50 percent in 2022, according to our econometric models.