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December 08, 2020JAPAN GDP 2020 Q3 
The Japanese economy bounced back in the third quarter of 2020 and posted a seasonally adjusted annualized gain of 22.9%. This was the first quarterly annualized gain following three consecutive quarters of decline (-7.2% in Q4 2019, -2.1% in Q1 and -29.2% in Q2 2020).
Japan’s nominal GDP increased 23.9% in Q3 2020 (seasonally adjusted annualized rate).
The increase in Japan’s GDP in Q3 is supported by gains in household consumption and government consumption, as well as an increase in public investment. Exports increased in Q3 while imports continued a downward trend. Residential and non-residential investment declined in the third quarter.
A seasonally adjusted annualized rate shows what the percent change would be if the quarterly rate continued for a full year, by compounding the quarterly rate four times. Reporting annualized rates facilitates comparability between annual and quarterly growth but can exaggerate change when series are volatile. The COVID-19 schock do not indicate an expansion of Japan's GDP by 22.9%. It would take four quarters of compounded growth at the same pace as reported in Q3 to increase Japan's GDP by 22.9%. Compared to the previous quarter, real GDP for Japan increased 5.3% in Q3 2020. Real GDP for Japan in Q3 2020 contracted 5.7% compared to Q3 2019.
Cabinet Office of Japan: Quarterly Estimates of GDP: Real, Nominal
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