Japan GDP Growth Revised Up to -0.3% in Q2


The Japanese economy shrank 0.3 percent quarter-on-quarter in the second quarter of 2015, upwardly revised from an initial estimate of 0.4 percent contraction. It is the first contraction since the third quarter of 2014, as contribution from private inventories able to offset a decline in private and external demand.

Private demand declined 0.3 percent,  substracting 0.2 percentage point to growth. Private consumption, which accounts for about 60 percent of the economy, fell 0.7 percent, substracting 0.4 percent to growth. Private non-resential investment/capital expenditure dropped 0.9 percent, substracting 0.1 percent to growth. In contrast, private residential investment grew by 1.9 percent, adding 0.1 percentage point to growth. Private inventories added 0.3 percentage point to growth, higher than 0.1 percentage point contribution in an initial estimate.

Public demand grew by 0.7 percent in the June quarter, contributing 0.2 percentage point to growth. Government consumption expanded 0.5 percent, contributing 0.1 percentage point to growth. Public investment grew 2.1 percent, also adding 0.1 percentage point to growth.

Exports declined by 4.4 percent, substracting 0.8 percentage point to growth. Imports also fell by 2.6 percent, contributing 0.6 percentage point to growth. 

The second quarter gross domestic product figure translated into an annualised contraction of 1.2 percent, better than preliminary estimate of 1.6 percent contraction. It is also the first contraction since the September quarter of 2014.

Japan GDP Growth Revised Up to -0.3% in Q2


Japan Cabinet Office l Rida Husna | rida@tradingeconomics.com
9/8/2015 1:44:36 AM