Japan Bip-Wachstum

Japan’s GDP contracted 0.4% qoq in Q3 2025, reversing an upwardly revised 0.6% growth in Q2 but performing slightly better than market expectations of a 0.6% decline, preliminary data showed. It was the first quarterly drop since Q1 2024, reflecting subdued private consumption (0.1% vs 0.4%) amid lingering cost pressures, particularly elevated rice prices and rising utility bills. Net trade also contributed negatively (-0.2 ppts), with exports (-1.2% vs 2.3%) falling faster than imports (-0.1% vs 1.3%) after Washington imposed a 15% baseline tariff on most Japanese goods in September. Still, government spending (0.5% vs 0.1%) and business investment (1.0% vs 0.8%) recorded their strongest gains in five quarters, supported by front-loaded public works and corporate upgrades to production capacity. The latest print comes as Prime Minister Sanae Takaichi’s administration prepares a stimulus package to ease rising living-cost pressures and support exporters facing higher U.S. tariffs.