July-September GDP Real growth rate Plus 21.4% Growth rate is also recovering

July-September GDP Real growth rate Plus 21.4% The maximum growth rate is also recovering November 16 at 9:04 a.m.

As announced by the Cabinet Office, gross domestic product (GDP) from July to September grew by 21.4% on an annualized scale, making it the largest comparable growth rate since 1980. However, due to the effects of the new coronavirus, there is a large recoil aspect of the historic plunge in the previous three months, and the size of GDP has not returned to the level before the spread of the infection.
According to the preliminary figures for GDP from July to September, the real growth rate excluding price fluctuations was 5.0%, which was positive for the first time in four fiscal years compared to the previous three months.

If this continued for one year, the annual rate was plus 21.4%, the largest increase since comparable 1980, exceeding the positive 12.0% recorded from October to December 1989 in the middle of the bubble economy.

However, due to the recoil of the historic plunge of minus 28.8% in the previous three months due to the effects of the new coronavirus, GDP is far from the level before the spread of the infection, and the Japanese economy is on the way to recovery.

By item, “private consumption,” which accounts for more than half of GDP, increased spending on travel and food and drink due to the effects of Go To Travel, which grew significantly to 4.7% compared to the previous three months.

Exports also increased by 7.0% due to an increase in automobiles for the U.S.

On the other hand, business fixed investment continued to fall by minus 3.4% and housing investment by minus 7.9%.

It is pointed out that the momentum of the recovery is slow compared with overseas.

Alever, GDP has improved significantly this time, but some have pointed out that the recovery momentum may be slow compared to overseas.

The U.S. was up 33.1% from July to September after the growth rate of real GDP from April to June fell significantly to minus 31.4% on an annualizedized rate.

In 19 eurozone countries, including Germany and France, the annual rate was minus 39.5% from April to June, and from July to September it was plus 60.5%.

On the other hand, Compared to the same period last year, China was minus 6.8% from January to March, plus 3.2% from April to June, and plus 4.9% from July to September.