A report from Marcel Thieliant (senior Japan economist at Capital Economics) stated that the Japanese economy will get into a recession the following year which is driven by a shrinking in exports of which the trade deficit in October dropped more than expected at $15 billion. Comparing the year-on-year record, even though, the export hiked to 25.3% yet but slower than year-on-year when the import was a hike to 45%
Moreover, before Japan released a report on the third quarter of GDP on 8th Thursday, December 2022, Japanese analysts forecasted that GDP would decline to 1.1% for July to September period, after formerly a report that GDP had sunk to 1.2%. However, on 8th December 2022, the report of the third quarter GDP was released, the report mentioned that GDP sank to only 0.8% when which is better than when compared with the forecast’s analysts. Therefore, the Japanese government adjusted increasingly the number of the third quarter GDP, as the determinant is the economy recovered from COVID-19.
Furthermore, analysts predicted that the Japanese economy would be better in the quarter fourth of this year, because of ease the of controlling measures of the supply of microchips and automobiles as well as the ceasing lockdown measure which stimulates the tourism sector.
Published 14/12/2022
By Windy K.
