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August 10, 2018JAPAN GDP 2018 Q2 (FIRST ESTIMATE) Japan's real GDP rebounded with a 1.9 per cent increase in the second quarter of 2018 (seasonally adjusted annualized rates) according to the first estimate released by the Government of Japan's Economic and Social Research Institute. Japan's economy has returned to growth after a decline of 0.9 per cent in the first quarter.
Japan's nominal GDP also returned to growth, with a gain of 1.7 per cent in the second quarter. Overall prices (GDP deflator) declined in the first quarter and have not increased since the second quarter of 2017.
Real private consumption was the main contributor to Japan's first quarter economic decline. Private consumption rebounded with annualized growth of 2.8 per cent in the second quarter. Although residential construction investment continued to decline (-10.3 per cent) for the second consecutive quarter, non-residential investment was up 5.2 per cent. Government spending was up 0.9 per cent in real terms, but this was partially offset by a decline in public investment. Import growth of 3.9 per cent outpaced the export increase of 0.8 per cent.
Cabinet Office of Japan: Quarterly Estimates of GDP
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