Japan GDP Growth Rate

Japan's GDP grew by 0.6% qoq in Q4 2024, below the flash estimate of 0.7% but higher than an upwardly revised 0.4% expansion in Q3, marking the third consecutive quarter of growth. Private consumption saw a slight downward revision, remaining flat instead of a 0.1% growth reported in the flash estimate, following a 0.7% increase in Q3. Meanwhile, business investment gained 0.6%, compared to a preliminary reading of 0.5% and after a 0.1% drop in Q3, surpassing forecasts of a 0.3% rise. Simultaneously, government spending expanded for the fourth successive quarter, rising by 0.4%, up from an initial estimate of 0.3% and a 0.1% gain in Q3. Net trade contributed 0.7 percentage points to overall growth, as exports rose for the third straight quarter despite concerns over US tariff threats (1.0% vs 1.5% in Q3), while imports fell for the first time since Q1 2024 (-2.1% vs. 2.0% in Q3). On an annualized basis, the economy advanced 2.2%, quickening from an upwardly revised 1.4% in Q3.