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May 16, 2024JAPAN GDP Q1 2024 (FIRST PRELIMINARY) 
The first preliminary estimates indicate that the Japanese economy contracted at a seasonally adjusted annualized rate of 2.0% in the first quarter of 2024. Japan's economy has not registered significant real GDP growth since the second quarter of 2023.
Japan's economic contraction came with a fourth consecutive decline in real household consumption. Residential investment was down, as were private non-residential investments. These were offset by risng inventory accumulation and public investment. Both exports and imports fell, but exports declined at a faster pace.
Japan's nominal GDP was revised up grew by 0.4% (seasonally adjusted annualized rate) in Q1 2024. Japan's price deflator for real GDP (the broad measure of price growth) increased at a seasonally adjusted annualized rate of 2.6% in Q1 2024.
Source: Cabinet Office of Japan, Quarterly Estimates of GDP
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