The Japanese economy contracted 0.3 percent on quarter in the three months to September 2018, after an upwardly revised 0.8 percent growth in the previous period and matching market consensus, preliminary estimates showed. Amid a decline in private consumption and a negative contribution from net exports, business spending fell unexpectedly. The latest result came after the third largest economy in the world hit by a series of natural disasters, while an intense global trade dispute starts to reduce overseas demand. 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. 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 -4.90 percent in the first quarter of 2009.

Japan GDP Growth Rate
width
height
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.



Japan Q3 GDP Shrinks 0.3% QoQ


The Japanese economy contracted 0.3 percent on quarter in the three months to September 2018, after an upwardly revised 0.8 percent growth in the previous period and matching market consensus, preliminary estimates showed. Amid a decline in private consumption and a negative contribution from net exports, business spending fell unexpectedly.

The latest result came after the third largest economy in the world hit  by a series of natural disasters, while an intense global trade dispute starts to reduce overseas demand. 

Negative contribution to GDP came from private demand (0.2 percentage points), of which private consumption (-0.1 percentage points) and change in private inventories (-0.1 percentage points), while business spending gave no contribution to growth. At the same time, public demand substracted 0.1 percentage points off growth, and net exports had a negative contribution of 0.1 percentage points.

Private demand declined by 0.2 percent in the September quarter, reversing from a 1.1 percent rise in the second quarter, driven by a marked drop in private consumption (-0.1 percent vs 0.7 percent in Q2) and compared to market expectations of a 0.2 percent decrease. In addition, capital expenditure fell unexpectedly by 0.2 percent, following a 3.1 percent growth in the second quarter and missing estimates of a 0.6 percent gain. It was the first decline in capital expenditure since the third quarter 2016.

Also, public demand dropped 0.2 percent, after a 0.1 percent gain in the preceding quarter. The decline was mainly due to a faster fall in public investment (-1.9 percent vs -0.3 percent in Q2), which was the the steepest contraction in a year; while government spending was stable (at 0.2 percent).

Exports of goods and services plummeted 1.8 percent, reversing from a 0.3 percent rise in the second quarter and marking the steepest fall since the second quarter 2015. Also, imports dropped 1.4 percent, compared to a 1 percent growth in the June quarter and reaching the biggest drop since March quarter 2016.

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. Private consumption fell, amid a decline in investment spending and a tumble in public investment.


Cabinet Office l Rida | rida@tradingeconomics.com
11/14/2018 1:53:50 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-08-09 11:50 PM GDP Growth Rate QoQ Prel 0.5% -0.2% 0.3% 0.20%
2018-09-09 11:50 PM GDP Growth Rate QoQ Final 0.7% -0.2% 0.7% 0.6%
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


Japan GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.30 0.70 3.20 -4.90 percent [+]
GDP Annual Growth Rate 1.00 1.00 9.40 -8.80 percent [+]
GDP Growth Annualized -1.20 3.00 12.90 -18.10 percent [+]
GDP 4872.14 4949.27 6203.21 44.31 USD Billion [+]
GDP Constant Prices 535945.10 537599.20 537599.20 255945.60 JPY Billion [+]
Gross National Product 562569.10 557040.60 562569.10 260680.20 JPY Billion [+]
Gross Fixed Capital Formation 129862.00 127634.50 141803.70 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 4272.10 4700.10 7549.80 4272.10 JPY Billion [+]
GDP From Construction 28365.30 28188.70 42167.10 25584.40 JPY Billion [+]
GDP From Manufacturing 107759.60 103814.20 111580.50 81251.50 JPY Billion [+]
GDP From Mining 213.80 233.30 515.20 179.70 JPY Billion [+]
GDP From Public Administration 26247.90 26262.30 26535.70 22255.00 JPY Billion [+]
GDP From Services 21864.70 22201.40 96295.10 21864.70 JPY Billion [+]
GDP From Transport 24250.60 24766.70 27093.60 22407.80 JPY Billion [+]
GDP From Utilities 8743.10 8424.00 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 November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-0.30 0.70 3.20 -4.90 1980 - 2018 percent Quarterly
SA




Country Last
Singapore 4.70 Sep/18
United States 3.50 Sep/18
Indonesia 3.09 Sep/18
India 1.90 Jun/18
China 1.60 Sep/18
Australia 0.90 Jun/18
Mexico 0.90 Sep/18
Russia 0.90 Jun/18
Turkey 0.90 Jun/18
Netherlands 0.80 Jun/18
Canada 0.70 Jun/18
Switzerland 0.70 Jun/18
South Korea 0.60 Sep/18
Spain 0.60 Sep/18
United Kingdom 0.60 Sep/18
Germany 0.50 Jun/18
France 0.40 Sep/18
Brazil 0.20 Jun/18
Euro Area 0.20 Sep/18
Italy 0.00 Sep/18
Saudi Arabia -0.05 Mar/18
Japan -0.30 Sep/18
South Africa -0.70 Jun/18
Argentina -4.00 Jun/18


Related

Latest