The Japanese economy recorded negative growth for the first time in six quarters.
According to an announcement by the Japanese Cabinet Office on November 17, the preliminary real gross domestic product (GDP) for the third quarter of this year decreased by 0.4% compared to the previous quarter. The annualized growth rate stands at -1.8%.
As a result, the quarterly GDP growth rate, which had maintained positive figures for five consecutive quarters since the second quarter of last year, has now turned negative.
Looking at the Japanese economy by sector in the third quarter of this year, household consumption expenditure increased by 0.1% and corporate capital investment also grew by 1.0%. However, private housing dropped significantly by 9.4%, and exports of goods and services also declined by 1.2%.
NHK reported that the economic downturn in the third quarter was influenced by factors such as a decrease in exports due to U.S. tariff measures.
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