Japanese third quarter growth data

Q3 GDP (preliminary):

  • -0.8% q/q vs. expected -0.2% q/q, prior 0.5%
  • -3.0% y/y vs. expected -0.8% y/y, prior 1.9%
  • GDP deflator (an inflation indication) -1.1% y/y. Falling 3 quarters in a row now.

  • Private consumption -1.1% q/q vs expected at -0.5% and prior at +0.9%

  • Business spending (Capex) -3.8% q/q vs. expected -0.8% and prior +2.2%

Exports -2.1% q/q, the first fall in 5 quarters

Graph does not include today's data yet, but its back under the zero line for a contraction:

japan gdp q3 2021

Comments from a Japanese data spokesman says declines in autos, household electronics consumption dragged down private demand. Auto, constructions, production were contributors to the capex decline.


For background to the data the preview was posted here