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. 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 0.70 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 0.30 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
2018-08-09 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 -0.6% 0.7% -0.5% -0.3%
2019-02-13 11:50 PM GDP Growth Rate QoQ Prel -0.6% 0.70%
2019-03-07 11:50 PM GDP Growth Rate QoQ Final 0.70%
2019-05-15 11:50 PM GDP Growth Rate QoQ Prel 0.30%



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.

Private consumption declined 0.2 percent, faster than a 0.1 percent fall in the preliminary estimate and capital investment shrank 2.8 percent, compared to a preliminary drop of 0.2 percent. Public investment shrank 2 percent, also faster than 1.9 percent in earlier figures. Net external demand contributed negatively (-0.1 percentage point), matching earlier estimates as exports shrank 1.8 percent and imports fell 1.4 percent.
 
On the  other hand, rises were seen in private residential investment (0.7 percent compared to a preliminary of 0.6 percent) and government spending (0.2 percent, in line with the previous release).
 
On an annualized basis, the economy shrank 2.5 percent, much worse than preliminary estimates of a 1.2 percent fall and forecasts of a 1.9 percent decline. It is the steepest contraction since the second quarter of 2014 and follows a downwardly revised 2.8 percent growth in the second quarter. Capital expenditure slumped 10.6 percent, private spending went down 0.7 percent and external demand contributed negatively (-0.3 percentage points).


Cabinet Office | Joana Taborda | joana.taborda@tradingeconomics.com
12/10/2018 12:29:32 AM


Recent Releases

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. Number of natural disasters weighed on personal consumption, company investment and exports.
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.
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.
Published on 2018-08-10

Japan Q1 GDP Growth 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 the preliminary figure and after an upwardly revised 0.3 percent growth in the previous period. It is the first contraction since the fourth quarter 2015, as an unexpected decline in household consumption offset a rise in business spending.
Published on 2018-06-08



Japan GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.60 0.70 3.20 -4.80 percent [+]
GDP Annual Growth Rate 0.00 1.40 9.40 -8.80 percent [+]
GDP Growth Annualized -2.50 2.80 12.90 -17.80 percent [+]
GDP 4872.14 4949.27 6203.21 44.31 USD Billion [+]
GDP Constant Prices 532648.20 536036.70 536036.70 255945.60 JPY Billion [+]
Gross National Product 554498.40 560369.70 560369.70 260680.20 JPY Billion [+]
Gross Fixed Capital Formation 125711.90 128510.50 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 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 December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-0.60 0.70 3.20 -4.80 1980 - 2018 percent Quarterly
SA




Country Last Previous
United States 3.50 Sep/18
Indonesia 3.09 Sep/18
Singapore 3.00 Sep/18
South Africa 2.20 Sep/18
India 1.90 Jun/18
China 1.60 Sep/18
Russia 0.90 Jun/18
Brazil 0.80 Sep/18
Mexico 0.80 Sep/18
South Korea 0.60 Sep/18
Spain 0.60 Sep/18
United Kingdom 0.60 Sep/18
Canada 0.50 Sep/18
France 0.40 Sep/18
Australia 0.30 Sep/18
Euro Area 0.20 Sep/18
Netherlands 0.20 Sep/18
Saudi Arabia -0.05 Mar/18
Italy -0.10 Sep/18
Germany -0.20 Sep/18
Switzerland -0.20 Sep/18
Japan -0.60 Sep/18
Turkey -1.10 Sep/18
Argentina -4.00 Jun/18


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