The Japanese economy advanced 5 percent on quarter in the three months to September 2020, partially recovering from a record slump of 8.2 percent in the previous period and beating market consensus of 4.4 percent, a preliminary estimate showed. This was the first quarterly growth rate in a year, as activity and demand rebounded from the severe damage caused by the COVID-19 crisis. Private consumption rose for the first time in four quarters (4.7 percent vs -8.1 percent in Q2), while capital expenditure contracted at a softer pace (-3.4 percent vs -4.5 percent). In addition, net external demand added 2.9 percentage points to the GDP as exports grew for the first time in three quarters (7 percent vs -17.4 percent) while imports tumbled (-9.8 percent vs 2.2 percent). On an annualized basis, the economy grew at a record 21.4 percent in Q3, after a record plunge of 28.8 percent in Q2. source: Cabinet Office, Japan
GDP Growth Rate in Japan averaged 0.41 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 -7.90 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 November of 2020.
GDP Growth Rate in Japan is expected to be 1.10 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 0.60 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.