Japan GDP 3Q2015

by Eduardo Petazze
Last updated: December 8, 2015
For calendar year 2015 real GDP growth of 0.31% is estimated, from a fall of 0.03% in 2014
In the 3rd calendar quarter of 2015, Japan's real GDP grew by 1.65% YoY (+0.25% QoQ or +1.02% QoQ at annual rate)
The 2nd. preliminary estimates of Jul.-Sep. 2015 GDP (expenditure approach):
GDP (expenditure approach) and its components pdf, 10 pages
Domestic final consumption expenditure of households and the Gross fixed capital formation pdf, 4 pages

Summary and Outlook

billion
Yen

NSA
503,725
503,903
506,687
512,975
501,209
471,139
482,677
471,579
475,332
479,084
486,939
497,186
499,341
500,145

Annual (CY) data

Nominal GDP
Real GDP (2005 chained prices)
Price index 2005=100
YoY
SA
YoY
NSA
YoY
SA
YoY
NSA
YoY
SA
YoY
0.98% 503,716 0.92% 497,441 2.36% 497,526 2.31% 101.26 -1.35% 101.24 -1.36%
0.04% 504,025 0.06% 503,921 1.30% 504,045 1.31% 99.99 -1.25% 100.00 -1.23%
0.55% 506,721 0.53% 512,452 1.69% 512,509 1.68% 98.86 -1.13% 98.87 -1.13%
1.24% 512,941 1.23% 523,686 2.19% 523,620 2.17% 97.95 -0.92% 97.96 -0.92%
-2.29% 501,137 -2.30% 518,231 -1.04% 518,019 -1.07% 96.73 -1.25% 96.75 -1.24%
-6.00% 471,106 -5.99% 489,588 -5.53% 489,433 -5.52% 96.23 -0.52% 96.27 -0.50%
2.45% 482,803 2.48% 512,655 4.71% 512,650 4.74% 94.16 -2.15% 94.18 -2.16%
-2.30% 471,871 -2.26% 510,326 -0.45% 510,538 -0.41% 92.41 -1.85% 92.43 -1.86%
0.80% 475,566 0.78% 519,217 1.74% 519,384 1.73% 91.55 -0.94% 91.56 -0.94%
0.79% 479,324 0.79% 526,261 1.36% 526,472 1.36% 91.03 -0.56% 91.04 -0.57%
1.64% 486,843 1.57% 526,096 -0.03% 525,879 -0.11% 92.57 1.69% 92.58 1.69%
2.10% 497,186 2.12% 527,721 0.31% 527,721 0.35% 94.22 1.78% 94.21 1.76%
0.43% 499,341 0.43% 527,951 0.04% 527,951 0.04% 94.59 0.39% 94.58 0.39%
0.16% 500,145 0.16% 528,121 0.03% 528,121 0.03% 94.63 0.04% 94.62 0.04%

NSA
117,589
118,638
117,595
125,263
120,935
120,900
118,190
126,914
123,620
123,498
122,343
127,725
124,161
124,120
122,853
128,207

Nominal GDP
YoY
SA
-0.78% 476,383
0.53% 478,588
1.64% 481,311
1.76% 481,012
2.85% 487,409
1.91% 488,098
0.51% 483,895
1.32% 487,970
2.22% 497,952
2.15% 498,746
3.51% 500,672
0.64% 491,374
0.44% 500,631
0.50% 501,044
0.42% 502,775
0.38% 492,914

2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Latest data
Own estimate
billion
Yen

2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
2016Q2
2016Q3
2016Q4
Latest data
Own estimate

QoQ
0.78%
0.46%
0.57%
-0.06%
1.33%
0.14%
-0.86%
0.84%
2.05%
0.16%
0.39%
-1.86%
1.88%
0.08%
0.35%
-1.96%

Quarterly data
Real GDP (2005 chained prices)
Price index 2005=100
NSA
YoY
SA
QoQ
NSA
YoY
SA
QoQ
131,270 0.25% 522,380 0.98% 89.58 -1.03% 91.19 -0.20%
128,620 1.11% 526,373 0.76% 92.24 -0.57% 90.92 -0.30%
131,236 1.96% 528,999 0.50% 89.61 -0.32% 90.99 0.07%
135,134 2.10% 528,137 -0.16% 92.69 -0.34% 91.08 0.10%
134,819 2.70% 534,588 1.22% 89.70 0.14% 91.17 0.11%
128,218 -0.31% 524,632 -1.86% 94.29 2.23% 93.04 2.04%
129,270 -1.50% 520,962 -0.70% 91.43 2.03% 92.88 -0.16%
133,789 -1.00% 523,333 0.46% 94.86 2.34% 93.24 0.39%
133,388 -1.06% 529,025 1.09% 92.68 3.32% 94.13 0.95%
129,089 0.68% 528,337 -0.13% 95.67 1.46% 94.40 0.29%
131,402 1.65% 529,674 0.25% 93.11 1.83% 94.52 0.13%
133,842 0.04% 523,849 -1.10% 95.43 0.60% 93.80 -0.77%
133,349 -0.03% 529,146 1.01% 93.11 0.47% 94.61 0.86%
129,151 0.05% 528,553 -0.11% 96.10 0.46% 94.80 0.19%
131,485 0.06% 529,982 0.27% 93.44 0.35% 94.87 0.08%
133,967 0.09% 524,124 -1.11% 95.70 0.28% 94.05 -0.87%

Real Gross Domestic Product (original series)

Bn Chained (2005) Yen, NSA
Final consumption expenditure
Households
Imputed rent
NPISH
Government
Gross fixed capital formation
Private
Public
Change Inventories & residual
Exports
Imports
GDP
Latest data
Own estimate
YoY
Final consumption expenditure
Households
House, imputed rent
NPISH
Government
Gross fixed capital formation
Private
Public
Exports
Imports
GDP
Compensation of Employees
YoY
Households Implicit price
YoY

2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
100,354.9 101,576.2 104,271.8 103,162.2 100,783.6 102,180.4 104,049.8 102,933.2
60,249.4
61,810.9
63,705.2
62,201.1
60,172.2
61,889.4
63,425.4
61,900.3
12,844.0
12,886.6
12,931.8
12,950.4
12,963.7
13,017.8
12,994.0
12,985.0
1,746.5
2,004.1
2,124.5
1,598.4
1,804.2
2,070.1
2,081.6
1,591.3
25,515.0
24,874.6
25,510.3
26,412.3
25,843.5
25,203.1
25,548.8
26,456.6
23,374.6
25,704.7
26,241.1
30,304.1
23,525.3
26,235.7
26,250.1
30,242.5
19,333.1
20,697.0
19,828.5
23,999.5
19,403.2
21,262.2
19,826.5
23,939.5
4,041.5
5,007.7
6,412.6
6,304.6
4,122.1
4,973.5
6,423.6
6,303.0
1,732.9
-617.3
302.6
-3,087.0
1,779.7
-15.3
377.2
-3,025.7
22,063.2
22,531.4
23,535.6
23,558.6
22,454.9
23,203.7
23,900.2
23,855.9
19,308.0
19,924.6
20,562.4
20,550.1
19,454.3
20,202.3
20,735.2
20,657.1
128,217.6 129,270.4 133,788.7 133,387.8 129,089.2 131,402.2 133,842.1 133,348.8

2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
-1.94%
-2.11%
-1.55%
-3.00%
0.43%
0.59%
-0.21%
-0.22%
-3.13%
-3.40%
-2.66%
-5.08%
-0.13%
0.13%
-0.44%
-0.48%
1.26%
1.20%
1.15%
0.95%
0.93%
1.02%
0.48%
0.27%
-7.09%
-6.04%
-5.62%
-7.53%
3.30%
3.29%
-2.02%
-0.44%
-0.27%
-0.16%
0.29%
0.58%
1.29%
1.32%
0.15%
0.17%
0.72%
-1.89%
-3.02%
-3.65%
0.64%
2.07%
0.03%
-0.20%
0.90%
-1.73%
-3.16%
-3.49%
0.36%
2.73%
-0.01%
-0.25%
-0.11%
-2.59%
-2.59%
-4.25%
1.99%
-0.68%
0.17%
-0.03%
5.55%
7.53%
11.16%
7.12%
1.78%
2.98%
1.55%
1.26%
5.85%
5.06%
3.56%
-0.65%
0.76%
1.39%
0.84%
0.52%
-0.31%
-1.50%
-1.00%
-1.06%
0.68%
1.65%
0.04%
-0.03%
66,915.8
61,464.3
74,723.8
56,030.4
67,441.0
62,467.2
75,313.1
56,092.2
-2.12%
-0.93%
-0.83%
-0.09%
0.78%
1.63%
0.79%
0.11%
97.02
96.65
96.93
95.77
97.07
96.64
97.30
96.12
3.59%
3.23%
2.60%
1.81%
0.05%
-0.01%
0.38%
0.37%

Real Gross Domestic Product (seasonally adjusted series)

Bn Chained (2005) Yen, SA
Final consumption expenditure
Households
Imputed rent
NPISH
Government
Gross fixed capital formation
Private
Public
Change Inventories & residual
Exports
Imports
GDP
Latest data
Own estimate
QoQ annual rate
Final consumption expenditure
Households
Imputed rent
NPISH
Government
Gross fixed capital formation
Private
Public
Exports
Imports
GDP
Compensation of Employees
QoQ, SAAR
Households Implicit price
QoQ, SAAR

2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
408,021.2 408,294.2 409,752.9 410,906.6 409,679.7 411,099.5 409,018.3 410,125.5
247,193.3 247,279.8 248,243.4 248,888.9 246,981.7 247,908.2 246,973.5 247,870.2
51,407.1
51,545.0
51,691.2
51,839.7
51,961.2
52,112.5
51,790.3
51,961.7
7,583.2
7,392.5
7,362.9
7,484.4
7,603.2
7,661.6
7,468.0
7,425.6
101,837.6 102,076.9 102,455.4 102,693.6 103,133.6 103,417.2 102,786.5 102,868.0
105,805.2 104,895.5 104,864.0 106,595.1 106,718.3 107,056.4 104,891.1 106,445.0
84,127.0
82,873.1
82,945.9
85,120.4
84,544.2
85,208.4
83,092.6
85,081.4
21,678.2
22,022.4
21,918.1
21,474.7
22,174.1
21,848.0
21,798.5
21,363.6
964.7
-2,627.5
-3,644.1
-1,239.3
1,064.5
-394.2
-3,213.2
-962.0
88,844.4
90,248.5
92,844.6
94,641.5
90,592.4
92,999.2
94,236.5
95,960.4
79,003.9
79,848.5
80,484.1
81,878.8
79,718.0
81,087.1
81,083.7
82,422.5
524,631.6 520,962.2 523,333.3 529,025.1 528,336.9 529,673.8 523,849.0 529,146.4

2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
-13.92%
0.27%
1.44%
1.13%
-1.19%
1.39%
-2.01%
1.09%
-21.19%
0.14%
1.57%
1.04%
-3.03%
1.51%
-1.50%
1.46%
0.71%
1.08%
1.14%
1.15%
0.94%
1.17%
-2.45%
1.33%
-12.99%
-9.69%
-1.59%
6.77%
6.50%
3.11%
-9.73%
-2.25%
-0.92%
0.94%
1.49%
0.93%
1.72%
1.10%
-2.42%
0.32%
-17.45%
-3.40%
-0.12%
6.77%
0.46%
1.27%
-7.85%
6.06%
-19.31%
-5.83%
0.35%
10.91%
-2.68%
3.18%
-9.57%
9.92%
-9.72%
6.50%
-1.88%
-7.85%
13.68%
-5.75%
-0.90%
-7.74%
1.52%
6.47%
12.01%
7.97%
-16.05%
11.06%
5.43%
7.52%
-16.16%
4.35%
3.22%
7.11%
-10.15%
7.05%
-0.02%
6.77%
-7.24%
-2.77%
1.83%
4.42%
-0.52%
1.02%
-4.33%
4.11%
258,378.6 258,769.2 258,927.7 260,897.6 260,876.2 262,697.5 260,849.8 261,222.5
-4.28%
0.61%
0.25%
3.08%
-0.03%
2.82%
-2.78%
0.57%
96.54
96.68
96.84
96.35
96.52
96.64
97.27
96.68
8.55%
0.56%
0.70%
-2.02%
0.69%
0.53%
2.63%
-2.42%

Households Consumption excluding Imputed Rent

Households Consumption excluding Imputed Rent
AT CURRENT bn yen
. Prices Index 2005=100 .
NSA
YoY
SAAR
YoY
NSA YoY
SA
YoY
237,807.3
0.26 237,881.9
0.25
100.6 -0.71 100.6 -0.72
239,701.9
0.80 239,740.0
0.78
100.0 -0.63 100.0 -0.63
241,342.8
0.68 241,340.9
0.67
99.8 -0.21 99.8 -0.20
241,924.3
0.24 241,867.5
0.22
99.2 -0.61 99.2 -0.61
239,767.5
-0.89 239,813.5
-0.85
99.6 0.47 99.7 0.49
230,495.6
-3.87 230,479.1
-3.89
97.0 -2.70 97.0 -2.69
233,115.0
1.14 233,122.6
1.15
95.2 -1.82 95.2 -1.81
231,151.7
-0.84 231,132.3
-0.85
94.4 -0.79 94.5 -0.81
234,603.2
1.49 234,679.3
1.53
93.7 -0.79 93.7 -0.79
238,369.0
1.61 238,391.4
1.58
93.7 -0.02 93.7 -0.03
241,587.3
1.35 241,559.8
1.33
96.1 2.62 96.1 2.63
239,501.9
-0.86 239,501.9
-0.85
96.7 0.58 96.7 0.58
239,245.3
-0.11 239,245.3
-0.11
96.9 0.21 96.9 0.21
239,179.0
-0.03 239,179.0
-0.03
97.0 0.06 97.0 0.06

Chained (2005) yen - billion yen .

NSA
YoY
SAAR
YoY
236,304.8 0.97 236,404.1 0.97
239,701.9 1.44 239,771.3 1.42
241,840.6 0.89 241,849.2 0.87
243,907.8 0.85 243,855.5 0.83
240,613.3 -1.35 240,617.3 -1.33
237,732.5 -1.20 237,645.3 -1.24
244,880.7 3.01 244,811.1 3.02
244,747.0 -0.05 244,699.1 -0.05
250,384.3 2.30 250,445.2 2.35
254,449.0 1.62 254,493.3 1.62
251,297.3 -1.24 251,267.4 -1.27
247,688.1 -1.44 247,688.1 -1.42
246,899.3 -0.32 246,899.3 -0.32
246,694.5 -0.08 246,694.5 -0.08

Households Consumption excluding Imputed Rent

AT CURRENT bn yen
. Prices Index 2005=100 .
NSA
YoY
SAAR
QoQ
NSA YoY
SA QoQ
58,382.3
0.04 235,660.4
0.75
92.9 -1.12 93.4 -0.07
58,249.6
0.72 237,735.6
0.88
93.7 -0.57 93.2 -0.22
59,907.7
2.62 239,376.1
0.69
93.6 0.64 93.6 0.43
61,829.4
2.99 240,793.6
0.59
94.5 0.95 94.4 0.81
61,640.3
5.58 248,133.5
3.05
94.1 1.21 94.6 0.21
58,455.2
0.35 238,639.3
-3.83
97.0 3.59 96.5 2.07
59,742.1
-0.28 239,059.1
0.18
96.7 3.23 96.7 0.14
61,749.7
-0.13 240,407.3
0.56
96.9 2.60 96.8 0.17
59,568.3
-3.36 239,807.3
-0.25
95.8 1.81 96.4 -0.51
58,410.1
-0.08 238,377.4
-0.60
97.1 0.05 96.5 0.17
59,811.2
0.12 239,586.8
0.51
96.6 -0.01 96.6 0.13
61,712.3
-0.06 240,236.0
0.27
97.3 0.38 97.3 0.65
59,498.7
-0.12 239,637.0
-0.25
96.1 0.37 96.7 -0.61
58,318.1
-0.16 238,038.1
-0.67
97.3 0.21 96.8 0.09
59,760.2
-0.09 239,207.7
0.49
96.8 0.15 96.8 0.03
61,668.3
-0.07 240,098.4
0.37
97.4 0.12 97.4 0.58

Chained (2005) yen - billion yen .

NSA
YoY
SAAR
QoQ
62,821.2 1.18 252,205.5 0.83
62,195.6 1.30 254,993.9 1.11
63,986.4 1.97 255,659.1 0.26
65,445.8 2.02 255,114.6 -0.21
65,531.8 4.31 262,353.2 2.84
60,249.4 -3.13 247,193.3 -5.78
61,810.9 -3.40 247,279.8 0.03
63,705.2 -2.66 248,243.4 0.39
62,201.1 -5.08 248,888.9 0.26
60,172.2 -0.13 246,981.7 -0.77
61,889.4 0.13 247,908.2 0.38
63,425.4 -0.44 246,973.5 -0.38
61,900.3 -0.48 247,870.2 0.36
59,950.3 -0.37 245,993.5 -0.76
61,744.8 -0.23 247,124.7 0.46
63,303.9 -0.19 246,608.9 -0.21

2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Latest data
Own estimate

2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
2016Q2
2016Q3
2016Q4
Latest data
Own estimate