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Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

September 09, 2019
JAPAN GDP 2019 Q2 (SECOND PRELIMINARY)

The Japanese economy posted positive quarterly growth with a seasonally adjusted annualized rate increase of 1.3 per cent for the second quarter of 2019, revised down from 1.8 per cent in the first preliminary estimate for Q2.  Real GDP growth for the first quarter was also revised down to 2.2 per cent.  Real GDP in Japan was 0.8 per cent larger than the second quarter of 2018.                                                                                   

Japan's nominal GDP was up 1.1 per cent in Q2 2019, revised down from 1.7 per cent in the first preliminary estimate for Q2.  Japan's nominal GDP growth in Q1 2019 was 3.9 per cent. Growth in overall prices (GDP deflator) remains subdued in Japan.

The second quarter of 2019 saw increases in real private consumption (+2.4 per cent), private non-residential investment (+0.8 per cent), government consumption (+4.9 per cent), government investment (+7.2 per cent) and private residential investment (+0.3 per cent).  These increases were partially offset by a decline in exports (-0.1 per cent) and an increase in imports (+6.9 per cent), which are a subtraction in the GDP calculation.

 

Cabinet Office of Japan: Quarterly Estimates of GDP



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