The Japanese economy shrank 0.1% qoq in Q1 of 2022, compared with flash data of a 0.2% fall and after an upwardly revised 1.0% growth in Q4. The latest figure was better than market forecasts of a 0.3% drop, amid an upward revision of private consumption (0.1% vs flat reading in the preliminary print and after a marginally 2.4% rise in Q4). At the same time, there was a sharp rebound in government spending (0.5% vs 0.6% in flash data and after a 0.3% fall in Q4). Meantime, business investment turned negative (-0.7% vs 0.5% increase in the first estimate and after a 0.1% rise in Q4), while public investment fell more than initially thought and was down for the fifth straight quarter (-3.9% vs -3.6% in flash data and -4.7% in Q4). Net external demand contributed negatively to the GDP, as exports rose 1.1% (unchanged from the flash figure and after a 0.9% in Q4) while imports grew at a faster 3.3% (compared with a 3.4% growth in preliminary data and after a 0.3% in Q4). source: Cabinet Office, Japan
GDP Growth Rate in Japan averaged 0.43 percent from 1980 until 2022, reaching an all time high of 5.30 percent in the third quarter of 2020 and a record low of -7.90 percent in the second quarter of 2020. 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 June of 2022.
GDP Growth Rate in Japan is expected to be 1.00 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 Rate is projected to trend around 0.60 percent in 2023 and 0.50 percent in 2024, according to our econometric models.