日本経済　年率換算12.7％の成長　2020Q4

The Japanese economy expanded for a second consecutive quarter in Q4 2020, according to the preliminary national accounts estimates from the Cabinet Office, with real GDP increasing by 3% q/q.

This translates into a seasonally adjusted annualised growth rate of 12.7% q/q in Q4 2020, with private consumption growing at an annualised rate of 8.9%, non-residential investment by 19.4%, government consumption by 8.1%, and goods and services exports by 52.3% compared with imports growth of 17.3%.

The economy still declined on an unadjusted y/y basis, but at the softer pace of 1.2% in Q4. This led to a year-average real GDP contraction of 4.8% in 2020.

Explore how Japan's economy fared in the latest CEIC Leading Indicator (CLI) analysis of the eight surveyed regions here