Japan's economy shrank at an annualized rate of 3.9 percent in the first quarter of 2021, compared with the preliminary figure of 5.1% contraction and market consensus of a 4.8% fall and following an 11.7% growth in Q4. Private consumption, which accounts for more than half of Japan’s GDP, fell 5.8 percent, the first drop in three quarters, after a 9 percent growth in the December quarter. Also, government spending decreased 4.5 percent, following a 7.3 percent advance. Meantime, business spending shrank 4.6 percent, after an 18.3 percent jump in the December quarter. source: Cabinet Office, Japan
GDP Growth Annualized in Japan averaged 1.88 percent from 1980 until 2021, reaching an all time high of 22.90 percent in the third quarter of 2020 and a record low of -28.60 percent in the second quarter of 2020. This page provides the latest reported value for - Japan GDP Growth Annualized - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Japan GDP Growth Annualized - data, historical chart, forecasts and calendar of releases - was last updated on August of 2021.
GDP Growth Annualized in Japan is expected to be 1.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Annualized in Japan to stand at 0.60 in 12 months time. In the long-term, the Japan GDP Growth Annualized is projected to trend around 3.40 percent in 2022 and 2.20 percent in 2023, according to our econometric models.