From July to September, GDP = Gross Domestic Product was negative for the first time in four quarters, with a real annual growth rate of -1.2% compared to the previous three months.
The Cabinet Office announced on the 15th that the preliminary figure for GDP from July to September this year was minus 0.3% compared to the previous three months in real terms, excluding price fluctuations.
If this continues for one year, the annual rate will be minus 1.2%, the first minus in four quarters.
"Personal consumption", which accounts for more than half of GDP, slowed down by 0.3% compared to the previous three months.
During this period, the spread of COVID-19 caused a modest increase in demand for services such as travel, and it is believed that consumers became more thrifty due to the impact of rising prices for energy and foodstuffs. .
In addition, housing investment continued to decline to minus 0.4%, and imports increased by 5.2% compared to the previous three months, which contributed to the downward pressure on GDP growth.
On the other hand, "business fixed investment" increased by 1.5% compared to the previous three months.
It seems that investments that have been postponed so far have progressed as economic activity recovers from the corona disaster.