The Japanese economy shrank 0.6 percent on quarter in the three months to March 2020, unrevised from the preliminary estimate, and following a 1.9 percent fall in the previous period. This was the first recession since 2015, as the COVID-19 crisis took a huge toll on activity and demand. Private consumption fell for the second straight quarter (-0.8 percent vs -3.0 percent in Q4), while government spending was flat (vs 0.2 percent in Q4) and public investment dropped for the first time in five quarters (-0.6 percent vs 0.5 percent). Net external demand subtracted 0.2 percentage points from growth as exports fell more than imports. Meanwhile, capital expenditure rose by 1.7 percent, compared with a 4.8 percent drop in Q4. On an annualized basis, the economy contracted 2.2 percent in the first quarter.
GDP Growth Rate in Japan averaged 0.46 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 -4.80 percent in the first quarter of 2009. 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 August of 2020. source: Cabinet Office, Japan
GDP Growth Rate in Japan is expected to be 3.80 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 1.50 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.