The Japanese economy shrank 0.8 percent qoq in Q3 2021, compared with market expectations of a 0.2 percent fall and after a downwardly revised 0.4 percent growth in Q2, amid a resurgence of COVID-19 cases and persistent global supply chain disruptions, preliminary data showed. Both household consumption (-1.2 percent vs 0.9 percent in Q2) and private non-residential investment (-3.8 percent vs 2.2 percent) contracted, while public investment was down for the third straight quarter (-1.5 percent vs -2.1 percent). At the same time, net external demand contributed negatively as exports fell 2.1 percent, down for the first time in five quarters; while imports slipped 2.7 percent, falling for the first time in a year. On the other hand, government consumption growth was unchanged (at 1.1 percent). On an annualized basis, the GDP contracted 3.0 percent in the third quarter, compared with forecasts of a 0.8 percent decline and following a 1.5 percent expansion in the June quarter. source: Cabinet Office, Japan
GDP Growth Rate in Japan averaged 0.43 percent from 1980 until 2021, reaching an all time high of 5.40 percent in the third quarter of 2020 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 2021.
GDP Growth Rate in Japan is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Japan GDP Growth Rate is projected to trend around 0.60 percent in 2022 and 0.50 percent in 2023, according to our econometric models.