Japan Q3 GDP shrinkage (data due Monday) to be followed by more stimulus (announcement later in the week)

Data for economic growth in Japan in the July to September quarter is due on Monday 15 November 2021 local time.

• which is at 2350 GMT on Sunday 14 November

Q# GDP (preliminary):

• expected -0.2% q/q, prior 0.5%
• expected -0.8% y/y, prior 1.9%

Capex, external demand and private consumption are all estimated to have fallen on the quarter.

Japanese Prime Minister Kishida is expected to announce economic stimulus measures at the end of the week. A bigger drop in growth than that expected could translate into a larger package. Kishida has departed from Abe's and Suga's policies to the extent he is more focused on providing wage stimulus to the lower-paid, hoping to get more bang-for-his-yen by encouraging consumption amongst this group.