The most popular Japanese GDP growth fell sharply

2022-07-30
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Japan's GDP growth in the second quarter fell sharply below expectations

Japan's GDP growth in the second quarter fell sharply below expectations

China Construction Machinery Information

Guide: Japan's GDP growth in the second quarter fell sharply due to the continuous decline in demand caused by the European debt crisis and the global economic slowdown, and the slowdown in domestic consumption growth. According to the quick report data released by the Japanese Cabinet Office on the 13th, Japan's real GDP grew by 0.3% month on month in the second quarter, with an annualized growth rate of

Japan's gross domestic product (GDP) growth fell sharply in the second quarter due to the continuous decline in demand caused by the European debt crisis and the global economic slowdown, and the slowdown in domestic consumption growth

according to the quick report data released by the Japanese Cabinet Office on the 13th, Japan's real GDP in the second quarter increased by 0.3% month on month and 1.4% at the converted annual rate. It is necessary to test the growth of plastics for four consecutive quarters. However, compared with the annual growth rate of 5.5% in the first quarter of this year, the slowdown is obvious, which is far lower than the market expectation of 2.2%. As the Japanese economy faces great downside risks, some analysts say that if the Federal Reserve launches more easing policies to push up the yen, the Bank of Japan may soon take countermeasures to stimulate the economy

the European debt crisis dragged down exports

although Japan launched large-scale economic stimulus measures after the "March 11 earthquake" last year, Japanese exports were hit by the slowdown in global demand and the continuous appreciation of the yen. Japanese economy and finance minister yuanjiu Guchuan stressed on the 13th that it is necessary to pay close attention to the downside risks caused by the European debt crisis to the global economy

the Japanese Cabinet Office pointed out that Japan's economic growth in the second quarter was mainly driven by domestic demand. Domestic demand contributed 0.4 percentage points to the economic growth in the quarter, while the contribution of external demand was negative 0.1 percentage points, which can reduce the aperture by moving. With the improvement of the US market, Japan's exports increased by 1.2% month on month in the quarter, but far lower than the 3.4% in the first quarter; Due to the high import volume of energy such as liquefied natural gas, the import growth rate was 1.6%

however, on the same day, Yoshihisa Guchuan also stressed that Japan's economic trend continues to be positive driven by domestic demand, and it is expected that the economy will continue to maintain a slow growth momentum

consumption incentive effect weakens

it is reported that personal consumption accounts for more than 50% of Japan's economy. In order to stimulate the economy, the Japanese government has introduced a subsidy policy for environmentally friendly vehicles to stimulate consumption, and also introduced many incentive measures for post disaster reconstruction. But the rebound in domestic consumption also began to slow down. Guchuan yuanjiu also admitted that the pull of these policies on economic growth in the second quarter was not obvious

in the second quarter, Japan's personal consumption increased by 0.1% month on month, which was five consecutive quarters of growth, but the growth rate was far lower than the 1.2% of the previous quarter; Public investment mainly due to the demand for post disaster reconstruction increased by 1.7%; Equipment investment increased by 1.5% month on month

despite the efforts of the Japanese authorities to emphasize the positive side of the data, many analysts are still worried about Japan's economic prospects in the second half of the year. Some analysts pointed out that Japan's economy is mainly stimulated by government stimulus measures, which seems to lack the momentum for sustained growth at present. The subsidy policy for environmentally friendly vehicles is about to expire in early September. The growth in public investment brought by post disaster construction and reconstruction will continue to decrease in the coming months. The downturn in global demand and the continued strength of the yen continue to hit exports. The rebound in energy prices also makes the cost of increasing oil imports by shutting down nuclear power after the disaster rise

Hiroshima Shirakawa, chief economist of Credit Suisse Securities (Japan), believes that the latest GDP data show that Japan's economic growth will stop in the second half of this year, and the Japanese economy will shrink by 1% in the third quarter through fixed sales

additional stimulus measures may bring about a drop in Japan's economic growth, pushing up expectations that Japan will launch more economic stimulus measures or further relax monetary policy. Kyodo News Agency reported that the Japanese government may begin to formulate a special budget to implement additional economic stimulus measures. Worries about economic growth also increased the pressure on the Bank of Japan to further relax monetary policy

there is also a view that the fixture center is 150mm higher than the swing frame center, pointing out that the European debt crisis is still the biggest downside risk for Japan and the global economy. The Bank of Japan may also take a wait-and-see attitude. If the Federal Reserve launches more easing policies to push up the yen, the Bank of Japan may take countermeasures soon

due to the protracted European debt crisis, many Asian economies have been dragged down. Recent data show that China's exports grew by only 1% year-on-year in July. Korea's GDP in the second quarter increased by 0.4% year-on-year; In July, the total export volume was only US $44.6 billion, a year-on-year decrease of 8.8%. India's industrial production, regarded as the vane of India's economy, fell by 1.8% year-on-year in June, reflecting the continued slowdown in India's industrial exports and domestic demand

the Bank of Korea also announced in July that it would cut the benchmark interest rate by 0.25 percentage points to 3.0%, and maintain the benchmark interest rate unchanged in August. Shenminying, who is in charge of macro economy at the LG Institute of economics in South Korea, believes that the economic situation at home and abroad is not optimistic, and there may be one or two further interest rate cuts in South Korea in the second half of this year

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