Japan GDP


Japan: Q4 growth revised down amid weaker consumption and investment

March 11, 2011

The economy contracted more than initially reported in the fourth quarter. According to the second preliminary estimate released by the Cabinet Office on 10 March, GDP dropped by 1.3% at a seasonally adjusted annualised rate over the previous quarter, below the 1.1% contraction estimated earlier and also lower than market expectations of a 1.2% decline. Private consumption and investment were the main factors behind the downward revision of fourth quarter numbers. Private consumption dropped an annualised 3.2%, after having been initially estimated to have declined by 2.9%, while gross fixed capital formation dropped 1.6% (previous estimate: -2.6% qoq saar). Exports and imports remained broadly in line with the previous reading. On a quarter-on-quarter basis, GDP grew 0.3%, which was unchanged from the previous estimate. Despite the downward revision, full-year growth for 2010 reached a robust 3.9%, which marked the fastest pace since 1990.


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Japan Economic News

  • Japan: Machinery orders decline in May

    July 11, 2018

    Although core machinery orders—a leading indicator of capital spending over a three- to six-month period—contracted in May, the fall was weaker-than-expected, suggesting that capital expenditure will gain steam further down the road.

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    July 2, 2018

    According to the Bank of Japan’s quarterly Tankan business survey, sentiment among large manufacturers fell in the second quarter of 2018, suggesting economic momentum has yet to gain traction following a weak first quarter.

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  • Japan: Consumer confidence declines marginally in June

    June 29, 2018

    Consumer sentiment inched down to 43.7 in June from 43.8 in May, coming in just below market expectations of a stable print.

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  • Japan: Industrial production falls in May

    June 29, 2018

    Industrial production contracted 0.2% on a month-on-month and seasonally-adjusted basis in May, contrasting April’s revised 0.5% increase (previously reported: +0.3% month-on-month).

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  • Japan: Core inflation stable in May

    June 22, 2018

    The core consumer price index rose 0.1% in month-on-month seasonally-adjusted terms in May, reversing April’s 0.1% fall. Core inflation was steady at 0.7% in May, unchanged from April and in line with market expectations.

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