Market news

8 June 2021

Japan's GDP fell 3.9% in the first quarter

RTTNews reports that the Cabinet Office said in final reading that Japan's gross domestic product shrank an annualized 3.9 percent on year in the first quarter of 2021. That exceeded expectations for a decline of 4.8 percent following the 11.7 percent surge in the three months prior. On a quarterly basis, GDP was down 1.0 percent - again beating forecasts for a decline of 1,2 percent following the 2.8 percent increase in the previous three months.

External demand was down 0.2 percent on quarter after rising 1.1 percent in the previous three months, while private consumption dropped 1.5 percent on quarter after gaining 2.2 percent three months earlier.

Also the Ministry of Finance said that Japan posted a current account surplus of 1,321.8 billion yen in April. That missed expectations for a surplus of 1,500.6 billion yen following the 2,650.1 billion yen surplus in March. The capital account showed a surplus of 3.4 billion yen, while the financial account saw a shortfall of 242.7 billion yen.

The Bank of Japan said that overall bank lending in Japan was up 2.9 percent on year in May, standing at 578.366 trillion yen. That follows the 4.8 percent increase in April.

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.42% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.