The Japanese economy contracted 0.5 percent on an annualized basis in Q1 of 2022, compared with a preliminary data of a 1.0 percent decline and following an upwardly revised 4.0 percent growth in Q4 which was the strongest pace of expansion since Q4 of 2020. The upward revision came as consumption stayed resilient despite a resurgence of COVID-19 infections, with private consumption continuing to grow while there was a rebound in government spending. Meantime, business investment fell following a rise in the prior period, reflecting supply chain disruptions due to the Ukraine war. Net exports also contributed negatively to the GDP, amid a sharp jump in imports following the weak yen and surging commodity prices. source: Cabinet Office, Japan
GDP Growth Annualized in Japan averaged 1.84 percent from 1980 until 2022, reaching an all time high of 22.90 percent in the third quarter of 2020 and a record low of -28.20 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 July of 2022.
GDP Growth Annualized in Japan is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Japan GDP Growth Annualized is projected to trend around 2.00 percent in 2023 and 2.20 percent in 2024, according to our econometric models.