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Japan fourth quarter 2015 GDP falls more than expected

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Staff writer ▼ | February 16, 2016
Tokyo street
Second largest   In annualised terms GDP in Japan declined by 1.4%

Japanese economic activity slowed more than was expected at the end of 2015, as household consumption dropped sharply.

Gross domestic product in Asia's second-largest economy shrank by 0.4% quarter-on-quarter in the last three months of 2015, according to the country's Cabinet Office.

In annualised terms GDP declined by 1.4%, whereas economists had penciled in a drop of 0.8%.

Household consumption fell by an outsized 0.9% in the fourth quarter of 2015, after an increase of 0.4% in the third quarter, and government expenditures by another 0.1%.

Gross fixed capital formation was the only component of aggregate demand to register positive growth, rising by 0.1% over the quarter, with a 1.4% gain in non-residential private investment offsetting a 1.2% decline in private residential investment.

Exports fell by 0.9% quarter-on-quarter and imports by 1.4%, with net exports thus adding 0.1 percentage points to the rate of growth in GDP.


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