The Japanese Cabinet Office reported today that gross domestic product (GDP) rose by 4.6% year-on-year in Q4 21. This was below the preliminary estimates of 5.4%.
The dip below GDP estimates for Q4/21 came as the economy has come under pressure from rising commodity prices due to the crisis in Ukraine. In addition, the protracted supply shortage has also created uncertainty for the Japanese economy.
On a quarterly basis, the Japanese GDP grew by 1.1% in the fourth quarter.
Japan’s Cabinet Office also reported that capital spending rose 0.3% in the fourth quarter, down from initial estimates of 0.4%.
Exports rose 0.9%, below the original estimate of 1%, while imports fell 0.4%, worse than the original estimate of 0.3%.