Disclaimer: The information provided on the Timber Exchange Market Data Hub is sourced from a variety of publicly available data sources and confidential sources that have not been independently verified. Timber Exchange is not responsible for any expenses, damages, losses, or costs incurred as a result of using or relying on the information provided on this site. By using the Timber Exchange Market Data Hub, you agree to use the information at your own risk and acknowledge that any decisions made based on the information provided are done so solely at your own risk.
Japan's economy contracts by 2% in Q1, slightly better than expected

Japan's economy contracts by 2% in Q1, slightly better than expected

Posted on June 17, 2024   |  

Japan's economy shrank by 1.8% annually in the first quarter, which was slightly better than the initial forecast of a 2.0% contraction.

Private sector investments improved to minus 0.4%, up from the previous estimate of minus 0.5%.

Despite this improvement, the seasonally adjusted real gross domestic product (GDP) remained negative due to declines in exports and consumption compared to the previous quarter.

Quarter-to-quarter, the economy saw a 0.5% decline in the January-March period, which was unchanged from the previous month.

Slow wage growth and increased import prices, influenced by a weakened Japanese yen against the US dollar, have impacted the economy.

However, unemployment remains relatively low at around 2.6%, although Japan faces a serious labor shortage due to a declining birth rate.

Japan's GDP is expected to fall to the fifth position globally in the coming year, following the US, China, Germany, and India.



Previous Next