Japan Q3 preliminary GDP -0.8% q/q (expected -0.2%)

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:

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. 

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November 15, 2021 at 12:06PM
Eamonn Sheridan
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