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Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

December 10, 2019


 The Japanese economy posted positive quarterly growth with a seasonally adjusted annualized rate increase of 1.8 per cent for the third quarter of 2019. There is upward revision in real GDP growth as compared to preliminary growth of 0.2 per cent. The reason of this upward revision in real GDP was the higher growth in private consumption and private non-residential investment. Real GDP in Japan was 1.9 per cent larger than the third quarter of 2018.

 Japan's nominal GDP was up 2.4 per cent in Q3 2019. Japan's nominal GDP growth  was 5.2 per cent in Q1 and 2.2 per cent in Q2. Growth in overall prices (GDP deflator) remains subdued in Japan.

The third quarter of 2019 saw increases in real private consumption (+2.1 per cent), private non-residential investment (+7.3 per cent), government consumption (+2.7 per cent), government investment (+3.7 per cent) and private residential investment (+6.5 per cent).  These increases were offset by a decline in exports (-2.5 per cent) and an increase in imports (+1.3 per cent), which are a subtraction in the GDP calculation.



Cabinet Office of Japan: Quarterly Estimates of GDP

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