Japanese GDP rebounds during third quarter of the year

The Government Office of Japan indicated that the figure stood at 5.3 % during the third quarter of this 2020

Japan’s Gross Domestic Product (GDP) experienced a 5.3 % rebound in the third quarter of 2020, thus partially recovering from the 8.3 % drop observed in the second quarter, according to the second estimate of the data released this Tuesday by the Japanese Government Office.

The Yoshihide Suga Executive thus improved his previous estimate by three tenths, which considered that the country’s economy experienced an increase of 5 % in the quarter.

In this way, the world’s third largest economy achieved its first quarter of positive growth in a year, after having chained three consecutive quarters of recession.

In year-on-year terms, Japan experienced a 5.7 % drop in the third quarter, after falling by 10.3 % in the second, 2 % in the first, and 1.1 % in the fourth quarter of 2019.

Between July and September, private demand in Japan experienced a quarterly increase of 2.6 %, four tenths better than previously estimated and compared to the collapse of 7.1 % in the previous period. The increase in household consumption stood out, with an advance of 5.2 %, five tenths more than the previous estimate. For its part, public demand was revised up four tenths, up to an increase of 2.3 %.

K. Tovar

Source: Business Today

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