US GDP announced at 9:30 pm Record deterioration due to new corona impact 17:51 July 30

GDP (Gross Domestic Product) from April to June in the United States will be announced shortly. For the past three months, record-breaking deterioration is expected as economic activities such as store closures and plant shutdowns were halted at the same time due to the spread of the new coronavirus.

Preliminary GDP figures for the United States from April to June will be announced at 9:30 pm Japan time.

Market forecasts show that GDP growth will be at an annualized rate of -35% compared to the previous three months, the worst level since 1947, when we began collecting quarterly statistics. It is

Compared with the worst three months at the time of the Lehman shock in 2008 at the minus 8% level, the impact of the spread of the new virus on the economy can be seen.

Meanwhile, major hamburger chains McDonald's had a large decline of minus 68% due to the restrictions on going out in each state in the United States and the closure of restaurants, and 60% of the closed small and medium-sized restaurants were closed. I was pushed.

In addition, the number of passengers at aviation and hotels has decreased sharply, and the production of factories in the manufacturing industry of automobiles has fallen sharply.

As a result, among the stores and companies, there were a series of moves to dismiss employees, and the unemployment rate remained high at 10% or more, which undermined the foundation of national life.

Since the world's largest trend in the US economy has an impact on Japan and the whole world, there is much interest in the contents of GDP.

Exports to the U.S. have fallen sharply

Due to the stagnation of economic activity due to the spread of the new coronavirus, exports from Japan to the United States have fallen sharply, affecting Japanese companies.

According to the Ministry of Finance's trade statistics, the amount of exports from Japan to the United States over the past year amounted to more than ¥15.200 trillion, and the United States is the largest export partner, accounting for one-fifth of all exports (19.8%).

However, the value of exports to the United States has continued to decline for the 11th consecutive month since August last year, and has fallen sharply due to the stagnation of economic activity, especially after April when the spread of the new coronavirus spread.

Compared to the same month last year, it decreased significantly by 37.8% in April, 50.6% in May, and 46.6% in June, respectively.

Looking at the amount of exports in June by item, “automobile” was 137.8 billion yen, a decrease of 63.3% compared to the same month last year, and “motor” including engine parts for aircraft was 35.8 billion yen, 56% , “Auto parts” decreased by 58.3% to ¥29.1 billion.

In addition, “manufacturing equipment for semiconductors,” which is essential for manufacturing smartphones and PCs, decreased by 41.4% to ¥31.7 billion.

In addition, “Construction and mining machinery” decreased by 44.1% to ¥23.9 billion and “Metal products” decreased by 53.8% to ¥10.1 billion. All items except “Pharmaceuticals” decreased.

Great impact on Japanese manufacturers

In the United States, the second largest automobile market in the world, the production of Japanese automakers has been greatly affected by the economic downturn caused by the spread of the new coronavirus.

Toyota, Honda, Nissan, and SUBARU, which produce cars locally, have been forced to suspend their plant operations since late March.

As a result, the total number of vehicles produced in April in the United States was "zero", which was an exceptional situation.

After that, manufacturers have resumed production due to the relaxation of restrictions on going out, but the number of vehicles produced in May decreased by 83% compared to the same month last year.

In June, the rate of recovery was 19%, showing a recovery trend, but it is still unclear how much production and sales will recover as the number of people infected with the new coronavirus is expanding again.

Nissan Motor Co., Ltd.'s president Makoto Uchida said in a financial statement on August 28, "The United States has been extremely tough in the last two months."

Then, regarding the world as a whole, he said, "There is a possibility that the so-called second wave will worsen the market environment, but it is difficult to see the impact at this time."

JETRO “Worried about exporting to rice”

Regarding the GDP (Gross Domestic Product) of the United States from April to June, when record-breaking deterioration is expected due to the effect of the new coronavirus, Nobuhiko Sasaki, Chairman of JETRO, Japan External Trade Organization, said at a press conference on the 30th. We may continue to be concerned about what will happen to Japan's exports to the United States.