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September 09, 2024JAPAN GDP Q2 2024 (REVISED) 
The revised estimates of Japan's economic growth indicate that the Japanese economy grew at a seasonally adjusted annualized rate of 2.9% compared to the previously estimated growth of 3.1% in the second quarter of 2024 and a decline of 2.4% in first quarter of 2024, previously estimated at -2.3%. This is the first significant real GDP growth since the second quarter of 2023.
Japan's economic growth came with a 3.8% growth in real household consumption. Residential investment was up 7.1%, as was private non-residential investments (+3.1%) and public investment (+17.2%). Exports were up 6.1%, but were offset by import growth of 6.9%. Estimated growth in government spending was 0.4%.
Japan's nominal GDP growth was revised to 7.2%(seasonally adjusted annualized rate) in Q2 2024, from the previously estimatd 7.4% growth. No revision was made to Japan's price deflator for real GDP (the broad measure of price growth), it remains estimated to have increased at a seasonally adjusted annualized rate of 4.1% in Q2 2024.
Source: Cabinet Office of Japan, Quarterly Estimates of GDP
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