https://sputnikglobe.com/20230309/japans-economy-stagnates-as-gdp-growth-in-4q-of-2022-revised-from-06-to-01-1108202882.html

Japan's Economy Stagnates as GDP Growth in 4Q 2022 Downgraded From 0.6% to 0.1%

Japan's Economy Stagnates as GDP Growth in 4Q 2022 Downgraded From 0.6% to 0.1%

Sputnik International

Japan's gross domestic product (GDP) in the fourth quarter of 2022 increased by 0.1% on an annualized basis, which is less than previous estimates

2023-03-09T06:32+0000

2023-03-09T06:32+0000

2023-04-06T12:15+0000

asia

economy

gdp

japan

https://cdn1.img.sputnikglobe.com/img/103241/23/1032412345_0:184:5428:3237_1920x0_80_0_0_c2e7640cfc4f33bf8acbcf0475d2bdea.jpg

The annualized growth of the country's GDP in October-December was thus downgraded from 0.6% reported earlier in the year. Experts from the DailyFX portal predicted that the increase would amount to 0.8% over the last quarter of the past year. At the same time, in the fourth quarter of 2022, the GDP showed no quarter-on-quarter change, while growing by 0.4% compared to the same period in 2021. One of the causes of a slower economic growth is underperforming private consumption, which accounted for around 60% of Japan's GDP and rose by just 0.3% quarter-on-quarter in October-December 2022 against the earlier estimates of 0.5%.Earlier, Japan's finance ministry has logged its largest one-month account deficit, which totaled 1.8 trillion yen ($14 billion), since 1985 due to rising energy prices and declining exports to China during the Lunar New Year holiday.

https://sputnikglobe.com/20221019/bank-of-japan-governor-says-current-yen-depreciation-negative-for-economy-1102071134.html

japan

2023

News

en_EN

japan's gdp growth, annualized basis, previous estimates