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Japan GDP Plunges More than Estimated
The Japanese economy shrank 7.9% on quarter in Q2 2020, compared with the preliminary reading of a 7.8% decline and market consensus of an 8.1% drop, and after a 0.6% fall in Q1. This was the third straight quarter of contraction and the steepest on record, amid the severe impact of the COVID-19 crisis. Private consumption tumbled, falling for the third straight quarter (-7.9% vs -0.7% in Q1); government spending dropped the most in four years (-0.6% vs flat reading); and capital expenditure slumped (-4.7% vs 1.7% gain in Q1) and worse than estimates of a 3.1% fall. In addition, net external demand subtracted 3.0 percentage points off growth, with exports falling the most since Q1 2009 (-18.5% vs -5.4% in Q1) and imports declining for the third straight quarter (-0.5% vs -4.2%). On an annualized basis, the economy collapsed at a record 28.1% in Q2, compared with forecasts of a 28.6% slump.
Published on 2020-09-08

Japan Q2 GDP Plunges at Record Pace
The Japanese economy shrank 7.8 percent on quarter in the three months to June 2020, compared with market forecasts of a 7.6 percent decline, and after a 0.6 percent fall in the previous period, a preliminary estimate showed. This was the third straight quarter of contraction and the steepest on record, amid the severe impact of the COVID-19 crisis. There were declines in private consumption (-8.2 percent vs -0.8 percent in Q1), capital expenditure (-1.5 percent vs 1.7 percent), and government spending (-0.3 percent vs flat reading). In addition, net external demand subtracted 3.0 percentage points off growth, with exports falling the most since Q1 2009 (-18.5 percent vs -5.4 percent) and imports dropping for a third straight quarter (-0.5 percent vs -4.2 percent). On an annualized basis, the economy collapsed 27.8 percent in the June quarter, the deepest on record, compared to consensus of a 27.2 percent slump.
Published on 2020-08-17

Japan Q2 GDP Contracts 0.6% QoQ
The Japanese economy shrank 0.6 percent on quarter in the three months to March 2020, unrevised from the preliminary estimate, and following a 1.9 percent fall in the previous period. This was the first recession since 2015, as the COVID-19 crisis took a huge toll on activity and demand. Private consumption fell for the second straight quarter (-0.8 percent vs -3.0 percent in Q4), while government spending was flat (vs 0.2 percent in Q4) and public investment dropped for the first time in five quarters (-0.6 percent vs 0.5 percent). Net external demand subtracted 0.2 percentage points from growth as exports fell more than imports. Meanwhile, capital expenditure rose by 1.7 percent, compared with a 4.8 percent drop in Q4. On an annualized basis, the economy contracted 2.2 percent in the first quarter.
Published on 2020-08-03

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.
Published on 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.
Published on 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.
Published on 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.
Published on 2020-02-17

Japan Q3 GDP Growth Revised Higher
Japan's quarterly economic growth was revised higher to 0.4 percent in the third quarter of 2019 from a preliminary estimate of 0.1 percent and above market expectations of 0.2 percent. Private consumption and capital expenditure increased faster than initially thought while net external demand contributed negatively to the expansion. On an annualized basis, the economy grew 1.8 percent in July-September, much more than the initial estimate of a 0.2 percent expansion and easily beating market expectations of 0.7 percent.
Published on 2019-12-09

Japan Q3 GDP Growth Weakest in a Year
The Japanese economy advanced 0.1 percent quarter-on-quarter in the three months to September 2019, missing market expectations of a 0.2 percent expansion and following a revised 0.4 percent growth in the previous period, a preliminary estimate showed. This marked the weakest pace of quarterly expansion since a 0.5 percent contraction in the September quarter last year, mainly due to a slowdown in household consumption and a negative contribution from net exports. On an annualized basis, the economy expanded 0.2 percent in the third quarter, after an upwardly revised 1.8 percent expansion in the June quarter and below consensus of a 0.8 percent advance.
Published on 2019-11-14

Japan Q2 GDP Growth Revised Lower to 0.3%
Japan's quarterly economic growth was revised lower to 0.3 percent in the second quarter of 2019 from a preliminary estimate of 0.4 percent and compared to the previous period's 0.5 percent growth. There was a sharp downward revision of capital expenditure amid weakness in the global economy and worsening trade protectionism. On an annualized basis, the economy grew 1.3 percent in the second quarter, weaker than the preliminary reading of 1.8 percent and after a revised 2.2 percent expansion in the previous quarter.
Published on 2019-09-09

Japan Q2 GDP Growth Beats Estimates
The Japanese economy advanced 0.4 percent quarter-on-quarter in the three months to June 2019, easily beating market expectations of a 0.1 percent expansion and following an upwardly revised 0.7 percent growth in the previous period, a preliminary estimate showed. This marked the third straight quarter of GDP expansion, supported by robust private consumption and solid business investment while exports declined. On an annualized basis, the economy grew by 1.8 percent in the second quarter, after an upwardly revised 2.8 percent expansion in the March quarter and far above estimates of a 0.4 percent advance.
Published on 2019-08-09

Japan Q1 GDP Growth Revised Higher to 0.6%
The Japanese economy advanced 0.6 percent quarter-on-quarter in the first quarter of 2019, stronger than a preliminary estimate of 0.5 percent and after an upwardly revised 0.5 percent growth in the previous period. Net exports contributed positively to the GDP growth for the first time in four quarters, while there was a substantial upward revision to capital expenditure. On an annualized basis, the economy grew 2.2 percent in the first quarter, better than a preliminary figure of 2.1 percent and following an upwardly revised 1.8 percent advance in the previous quarter.
Published on 2019-06-10

Japan Economy Unexpectedly Grows in Q1
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.
Published on 2019-05-20

Japan Q4 GDP Growth Revised Higher to 0.5%
The Japanese economy advanced 0.5 percent quarter-on-quarter in the December quarter 2018, stronger than the preliminary estimate of a 0.3 percent expansion and recovering from a downwardly revised 0.6 percent contraction in the third quarter. The latest GDP reading was above market expectations of a 0.4 percent growth, supported by a rebound in household consumption and an upward revision of business spending following a series of natural disasters. On an annualized basis, the economy grew 1.9 percent, faster than the preliminary figure of 1.4 percent, slightly above forecasts of a 1.8 percent expansion and rebounding from a downwardly revised 2.4 percent contraction in the previous quarter.
Published on 2019-03-08

Japanese Economy Returns to Growth in Q4
The Japanese economy advanced 0.3 percent quarter-on-quarter in the December quarter 2018, reversing from an upwardly revised 0.7 percent contraction in the previous period and compared to market expectations of a 0.4 percent growth, a preliminary estimate showed. Both household consumption and business investment rebounded strongly following a string of natural disasters. On an annualized basis, the economy grew 1.4 percent, after an upwardly revised 2.6 percent contraction in the September quarter and matching market consensus.
Published on 2019-02-14

Japan GDP Contracts More than Anticipated
The Japanese economy shrank 0.6 percent on quarter in the third quarter of 2018, faster than a preliminary estimate of a 0.3 percent drop and market expectations of a 0.5 percent decline. It is the steepest contraction since the second quarter of 2014, following a downwardly revised 0.7 percent expansion in the previous period. Natural disasters like flood and earthquake weighed more on personal consumption and capital investment than initially estimated.
Published on 2018-12-10

Japan Economy Shrinks 0.3% in Q3
The Japanese economy contracted 0.3 percent on quarter in the three months to September 2018, following an upwardly revised 0.8 percent growth in the previous period and matching market consensus, a preliminary estimate showed. The latest result came in as a number of natural disasters weighed on personal consumption, company investment and exports. On an annualized basis, the economy shrank 1.2 percent, worse than market forecasts of a 1 percent contraction and following a 3 percent expansion in the June quarter.
Published on 2018-11-14

Japan Q2 GDP Growth Revised Higher to 0.7%
The Japanese economy advanced 0.7 percent quarter-on-quarter in the June quarter of 2018, stronger than the preliminary figure of a 0.5 percent growth and after a 0.2 percent contraction in the previous period. It was the highest growth rate since the first quarter of 2017, boosted by an upward revision of business spending and a strong rebound in private consumption. On an annualised basis, the economy grew by 3 percent, much faster than the preliminary estimate of a 1.9 percent expansion and easily beating consensus of a 2.6 percent growth. It followed a 0.9 percent contraction in the March quarter and marking the highest annualized figure since the first quarter 2016, due to strength in business spending and household consumption.
Published on 2018-09-10

Japan Economy Returns to Solid Growth in Q2
The Japanese economy advanced 0.5 percent on quarter in the three months to June 2018, after a 0.2 percent contraction in the previous period and beating market consensus of a 0.3 percent growth, preliminary estimates showed. It was the highest growth rate since the third quarter of 2017, boosted by a strong rebound in household consumption and a faster rise in business spending. On an annualised basis, the GDP expanded 1.9 percent, also above forecasts of a 1.4 percent growth and following an upwardly revised 0.9 percent contraction in the March quarter.
Published on 2018-08-10

Japan Q1 GDP Shrinks for First Time in 9 Quarters
The Japanese economy contracted 0.2 percent quarter-on-quarter in the March quarter of 2018, unchanged from a preliminary figure and after an upwardly revised 0.3 percent growth in the previous period. It is the first contraction since the December quarter 2015, as an unexpected decline in household consumption offset a rise in business spending. On an annualised basis, the economy shrank 0.6 percent, the same as the preliminary estimate but worse than market consensus of a 0.4 percent contraction and following an upwardly revised 1 percent expansion in the preceding quarter. It is the first contraction in more than two years, ending the longest straight period of uninterrupted growth in 28 years.
Published on 2018-06-08