Annual rate of GDP in October-December last year +0.6%, positive for the first time in two quarters

On the 14th, the Cabinet Office announced that the GDP (Gross Domestic Product) from October to December last year increased by 0.6% annually compared to the previous three months, the first time in two quarters. It became a plus.

The increase in consumption of services such as travel and lodging, as well as the recovery of inbound demand due to the relaxation of border measures, led to the growth of GDP.

GDP of major countries/regions

The growth rate of GDP (gross domestic product) for the United States, China, and the euro area from October to December last year, which has already been announced, was all positive, but the risk of economic downturn has been pointed out, and the Japanese economy There are also concerns about the impact on

America

The US GDP from October to December last year increased by 2.9% in real terms compared to the previous three months.

Tourism and restaurants were strong due to the normalization of the economy from the corona crisis, but corporate capital investment increased only slightly, and housing investment decreased significantly due to the impact of rapid interest rate hikes.

The FRB = Federal Reserve Board is expected to continue to raise interest rates to curb inflation, and there is growing concern that the US economy will fall into recession as a result.

China

During the same period, China's GDP has remained flat at an annual growth rate of 0.0% compared to the previous three months, according to a Cabinet Office estimate.

The strict infection control measures taken under the "zero corona" policy were eased, but after that, in addition to the rapid spread of the infection, the economy during this period was sluggish due to the slump in the real estate industry, which is the main industry. stagnated.

Eurozone

The real GDP growth rate from October to December last year in 19 eurozone countries, including Germany and France, was +0.5% compared to the previous three months.

Although it has been positive for the seventh consecutive quarter, the pace of growth has slowed as record inflation, including soaring energy prices, weighs on consumer spending and corporate activity.

As risks of a downturn in the economies of Europe, the United States, and China have been pointed out, the focus will be on whether this will affect the Japanese economy in the form of cooling off the investment appetite of Japanese companies and leading to a decline in exports.