Japan GDP final for Q1 2021 -1.0% q/q (prior +2.8%)

Author: Eamonn Sheridan | Category: News

For the flash estimate and Q4 2020 figures: Japan Q1 GDP (preliminary) -1.3% q/q (SA) (vs. -1.1% expected)

  • GDP sa -1.0% q/q - if you check out the prelim numbers you'll see this revised figure is not as bad. 

  • GDP annualised sa -3.9% q/q 

  • GDP nominal -1.3% q/q 

  • GDP deflator (an inflation indication) % y/y 

  • Private consumption -1.5% q/q 

  • Business spending -1.2% q/q   

Some background if you find useful:
  • state of emergency curbs to combat the coronavirus pandemic are sapping GDP growth, weighing on consumption. 
  • Export growth is robust, which is a positive
  • rising energy and commodities prices could worsen terms of trade (Japan is heavily reliant on raw material imports)
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