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. GDP Growth Rate in Japan averaged 0.49 percent from 1980 until 2018, reaching an all time high of 3.20 percent in the second quarter of 1990 and a record low of -4.80 percent in the first quarter of 2009.

GDP Growth Rate in Japan is expected to be 0.30 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 2020, according to our econometric models.

Japan GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-11-13 11:50 PM GDP Growth Rate QoQ Prel -0.3% 0.8% -0.3% -0.3%
2018-12-09 11:50 PM GDP Growth Rate QoQ Final -0.6% 0.7% -0.5% -0.3%
2019-02-13 11:50 PM GDP Growth Rate QoQ Prel 0.3% -0.7% 0.4% 0.6%
2019-03-07 11:50 PM GDP Growth Rate QoQ Final 0.5% -0.6% 0.4% 0.4%
2019-05-15 11:50 PM GDP Growth Rate QoQ Prel 0.5% 0.3%
2019-06-09 11:50 PM GDP Growth Rate QoQ Final 0.5% 0.3%
2019-08-09 11:50 PM GDP Growth Rate QoQ Prel 0.7%



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.

In the fourth quarter, the largest contribution to GDP growth came from private demand (0.7 percentage points), of which private consumption (0.2 percentage points) and capital expenditure (0.4 percent). In addition, public demand added 0.1 percentage points, while changes in private inventories were neutral. Meantime, net trade had a negative contribution of 0.3 percentage points, as imports (0.5 percentage points) and exports (0.2 percentage points).

Private demand expanded 0.9 percent in the fourth quarter, faster than a 0.7 percent rise in the preliminary estimate and swinging from a 0.5 percent decline in the preceding period. Private consumption went up 0.4 percent, compared to a 0.6 percent incease in the preliminary figure, which was a rebound from a 0.2 percent fall in the prior quarter. Also, capital expenditure grew by 2.7 percent, the stongest pace since the first quarter of 2015, faster than the preliminary 2.4 percent but slightly below market consensus of 2.8 percent. The move followed a 2.6 percent decline in the third quarter. In addition, public demand rose 0.2 percent, down from a preliminary 0.4 percent rise, still rebounding from a 0.3 percent contraction in the preceding quarter, mainly boosted by government spending (0.7 percent vs 0.2 percent in Q3 vs a preliminary 0.8 percent).  

Exports of goods and services expanded 1.0 percent, higher than the preliminary reading of a 0.9 percent gain. The latest figure followed a 1.4 percent drop in the September quarter and marking the steepest growth in a year. Meantime, imports advanced 2.7 percent, unrevised from the preliminary data, after shrinking 0.7 percent in the previous three months and reaching the strongest gain since the September quarter of 2015.

On an annualized basis, the economy grew 1.9 percent, better than the preliminary figure of a 1.4 percent advance, slightly above forecasts of a 1.8 percent expansion and rebounding from a 2.4 percent contraction in the previous quarter.


Cabinet Office l Rida Husna | rida@tradingeconomics.com
3/8/2019 10:48:12 AM



Japan GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.50 -0.60 3.20 -4.80 percent [+]
GDP Annual Growth Rate 0.30 0.10 9.40 -8.80 percent [+]
GDP Growth Annualized 1.90 -2.40 12.90 -17.90 percent [+]
GDP 4872.14 4949.27 6203.21 44.31 USD Billion [+]
GDP Constant Prices 535333.30 532800.10 536038.70 255945.60 JPY Billion [+]
Gross National Product 556853.60 554421.40 559758.80 260680.20 JPY Billion [+]
Gross Fixed Capital Formation 127702.80 125685.80 141805.40 71463.10 JPY Billion [+]
GDP per capita 48556.93 47660.90 48556.93 8607.70 USD [+]
GDP per capita PPP 39002.22 38282.50 39002.22 30582.40 USD [+]
GDP From Agriculture 4480.70 4272.10 7549.80 4272.10 JPY Billion [+]
GDP From Construction 29714.00 28365.30 42167.10 25584.40 JPY Billion [+]
GDP From Manufacturing 109203.90 107759.60 111580.50 81251.50 JPY Billion [+]
GDP From Mining 231.70 213.80 515.20 179.70 JPY Billion [+]
GDP From Public Administration 26259.80 26247.90 26535.70 22255.00 JPY Billion [+]
GDP From Services 21996.40 21864.70 96295.10 21864.70 JPY Billion [+]
GDP From Transport 25233.60 24250.60 27093.60 22407.80 JPY Billion [+]
GDP From Utilities 9567.30 8743.10 12212.00 7531.90 JPY Billion [+]


Japan GDP Growth Rate

Japan's industrialized, free market economy is the fourth biggest in the world. Japan has the largest electronics industry and the third largest automobile industry in the world. Japan’s economy is well-known by its efficiency and competitiveness in exports oriented sectors, but productivity is lower in areas such as agriculture, distribution, and services. This page provides - Japan GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Japan GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.50 -0.60 3.20 -4.80 1980 - 2018 percent Quarterly
SA




Country Last Previous
United States 2.60 Dec/18
Saudi Arabia 1.60 Sep/18
China 1.50 Dec/18
India 1.50 Sep/18
Singapore 1.40 Dec/18
South Africa 1.40 Dec/18
South Korea 1.00 Dec/18
Spain 0.70 Dec/18
Japan 0.50 Dec/18
Netherlands 0.50 Dec/18
France 0.30 Dec/18
Russia 0.30 Sep/18
Australia 0.20 Dec/18
Euro Area 0.20 Dec/18
Mexico 0.20 Dec/18
Switzerland 0.20 Dec/18
United Kingdom 0.20 Dec/18
Brazil 0.10 Dec/18
Canada 0.10 Dec/18
Germany 0.00 Dec/18
Italy -0.10 Dec/18
Argentina -1.20 Dec/18
Indonesia -1.69 Dec/18
Turkey -2.40 Dec/18


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