Japan's GDP grew by 0.1% qoq in Q4 of 2023, compared with flash data of a 0.1% fall and a 0.8% contraction in Q3. The economy narrowly escaped a recession as markets expected a 0.3% rise, helped by a strong upward revision of capital expenditure (2.0% vs the preliminary print and Q3 figure of a 0.1% fall, and market consensus of a 2.5% rise). Also, net trade contributed positively (0.2 percentage points, unchanged from the flash print), with exports (2.6% vs 0.9% in Q2) growing stronger than imports (1.7% vs 1.0%). Meanwhile, private consumption, which accounts for about 60% of the economy, shrank for the third straight quarter (-0.3% vs the initial reading of a 0.2% drop and after a 0.3% fall in Q3), due to elevated cost pressure and persistent headwinds at home. Also, government spending fell more than initially anticipated (-0.2% vs -0.1% in flash data, after a 0.3% rise in Q3), as did public investment (-0.8% vs -0.7% in the first estimate and after a 1.0% decrease in Q3). source: Cabinet Office, Japan
The Gross Domestic Product (GDP) in Japan expanded 0.10 percent in the fourth quarter of 2023 over the previous quarter. GDP Growth Rate in Japan averaged 0.43 percent from 1980 until 2023, reaching an all time high of 5.50 percent in the third quarter of 2020 and a record low of -7.80 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 April of 2024.
The Gross Domestic Product (GDP) in Japan expanded 0.10 percent in the fourth quarter of 2023 over the previous quarter. GDP Growth Rate in Japan is expected to be 0.10 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 0.40 percent in 2025, according to our econometric models.