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August 15, 2024JAPAN GDP Q2 2024 (FIRST ESTIMATE) 
The first estimates indicate that the Japanese economy grew at a seasonally adjusted annualized rate of 3.1% in the second quarter of 2024. This is the first significant real GDP growth since the second quarter of 2023.
Japan's economic growth came with a 4.1% growth in real household consumption. Residential investment was up 6.7%, as were private non-residential investments (+3.6%) and public investment (+19.5%). Imports were up 7.1% and exports were up by 5.9% - providing a slight offset to Japan's economic growth. In the second quarter of 2024, Japan increased inventory and government spending by 0.3%.
In the first estimates, Japan's nominal GDP grew by 7.4% (seasonally adjusted annualized rate) in Q2 2024. The first estimate of Japan's price deflator for real GDP (the broad measure of price growth) increased at a seasonally adjusted annualized rate of 4.1% in Q2 2024.
Source: Cabinet Office of Japan, Quarterly Estimates of GDP