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Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

November 14, 2019
JAPAN GDP 2019 Q3 (FIRST PRELIMINARY)

The Japanese economy posted positive quarterly growth with a seasonally adjusted annualized rate increase of 0.2 per cent for the third quarter of 2019. Growth had been faster the previous three quarters and trending around 1.8 per cent. Real GDP in Japan was 1.4 per cent larger than the third quarter of 2018.

Japan's nominal GDP was up 1.2 per cent in Q3 2019. Japan's nominal GDP growth in was 3.7 per cent in Q1 and 1.5 per cent in Q2. Growth in overall prices (GDP deflator) remains subdued in Japan.

The second quarter of 2019 saw increases in real private consumption (+1.4 per cent), private non-residential investment (+3.5 per cent), government consumption (+2.2 per cent), government investment (+3.4 per cent) and private residential investment (+5.7 per cent).  These increases were offset by a decline in exports (-2.6 per cent) and an increase in imports (+0.9 per cent), which are a subtraction in the GDP calculation.

 

Cabinet Office of Japan: Quarterly Estimates of GDP



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