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February 15, 2024JAPAN GDP Q4 2023 (FIRST PRELIMINARY) 
The first estimates indicate that the Japanese economy contracted at a seasonally adjusted annualized rate of 0.4% in the fourth quarter of 2023.
Japan's economic contraction came with a third consecutive decline in real household consumption. Residential investment was down, as were non-residential investment, government investment and inventory accumulation. Both exports and imports rose, but exports grew at a faster pace.
Japan's nominal GDP grew at 1.2% (seasonally adjusted annualized rate) in Q4 2023. Japan's price deflator for real GDP (the broad measure of price growth) increased at a seasonally adjusted annualized rate of 1.5% in Q4 2023.
Annual (2023 vs 2022)
Real GDP in Japan increased by 1.9% in 2023 from 2022. Nominal GDP saw a signifficant increase (+5.7%) compared to 2022 in part due to a rising inflation for 2023.
Cabinet Office of Japan: Quarterly Estimates of GDP
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