Japan's economy shrank at an annualized rate of 3.4 percent in the first quarter of 2020, compared with market consensus of a 4.6 percent contraction and following a revised 7.3 percent decline in the previous quarter. Private consumption, which makes up more than half of the economy, fell 2.8 percent (vs -11.1 percent in Q4), while capital spending dropped 2.1 percent (vs -17.7 percent). In addition, net external demand contributed negatively to the GDP as exports fell the most since the second quarter of 2011 (-21.8 percent vs 1.7 percent) while imports posted the largest drop in 11 years (-18.4 percent vs -9.3 percent).
GDP Growth Annualized in Japan averaged 1.94 percent from 1980 until 2020, reaching an all time high of 12.90 percent in the fourth quarter of 1989 and a record low of -17.80 percent in the first quarter of 2009. 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 June of 2020. source: Cabinet Office, Japan
GDP Growth Annualized in Japan is expected to be -13.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Annualized in Japan to stand at 2.00 in 12 months time. In the long-term, the Japan GDP Growth Annualized is projected to trend around 3.40 percent in 2021 and 2.20 percent in 2022, according to our econometric models.