DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Japan Q1 GDP Contracted On Weak Spending, Exports-Analysts

(MNI) Tokyo
TOKYO (MNI)

Japan's economy likely contracted in the first quarter of this year on weak private consumption and net exports, economists surveyed by MNI predicted.

See: MNI SURVEY: Japan Preliminary GDP for January-March.

A survey showed preliminary Q1 GDP fell 0.4% on quarter, or an annualised 1.8% drop after positive fourth quarter growth in 2021, but which was revised down. First quarter forecasts ranged from -0.1% to -0.7% q/q, or -0.2% to -2.6% at an annualised pace. The data also represents the final quarter of Japan's past fiscal year ended March 31.

Private consumption eased 0.5% q/q for the first drop in two quarters because of quasi-emergency measures to restrict economic activity on the back of the spread of Covid-19 infections, economists said, noting the many restrictions were lifted on March 21.

Consumption forecasts for Q1 ranged from -0.1% to +1.4%. However, economists expect Japan’s economy to grow in Q2 as private consumption rebounds, See: MNI BRIEF: BOJ Raises FY Inflation View To 1.9%, Lowers GDP.

Net exports of goods and services -- exports minus imports -- are expected to have shown a negative 0.3 percentage point hit to domestic output.

The Cabinet Office releases preliminary GDP for the January-March quarter at 0850 JST on Wednesday, May 18 (2350 GMT on Tuesday, May 17).

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
Private sectorDataPolicy NewsHomepagePolitical RiskFiscalGovernment sectorAPACBank of Japan (BOJ) Market NewsJapanCentral Bank NewsData StoriesBank of JapanPolicy StoryData PreviewStoryRegion
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
Private sectorDataPolicy NewsHomepagePolitical RiskFiscalGovernment sectorAPACBank of Japan (BOJ) Market NewsJapanCentral Bank NewsData StoriesBank of JapanPolicy StoryData PreviewStoryRegion

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.