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September 10, 2018JAPAN GDP 2018 Q2 (SECOND ESTIMATE) After a decline of 0.9 per cent in Q1, Japan's real GDP grew 3.0 per cent in the second quarter of 2018 (seasonally adjusted annualized rates) according to the second estimate released by the Government of Japan's Economic and Social Research Institute. The second estimate for Q2 real GDP growth was revised up from the preliminary estimate of 1.9 per cent growth premarily due to a higher estimate of non-residential investment activity in the quarter. Japan's economy was 1.3 per cent larger in Q2 2018 than Q2 2017.
Japan's nominal GDP also returned to growth, with a gain of 2.8 per cent in the second quarter. Overall prices (GDP deflator) remain subdued in Japan.
Real private consumption was the main contributor to Japan's first quarter economic decline. Private consumption rebounded with annualized growth of 2.9 per cent in the second quarter. Although residential construction investment continued to decline, down 9.3 per cent for the second consecutive quarter, non-residential investment was up 12.8 per cent. Government spending was up 0.8 per cent in real terms. Import growth of 3.8 per cent outpaced the export increase of 0.9 per cent.
Cabinet Office of Japan: Quarterly Estimates of GDP
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