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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
JapanJapan GDP Private Consumption QoQ fell to 0.0% in Q2 2026
FMPQuarterlyReleased September 2026
Japan GDP Private Consumption QoQ fell to 0.0% in Q2 2026, released September 2026, down 0.4% from March's 0.4% reading. The reading matched the 0.0% consensus. The print is running well below the 12-month average of 0.18%. GDP Private Consumption QoQ is now the lowest in 25 months.
Latest Release
0
Actual
0
Consensus
0.4
Previous
Median Absolute Error
±0.15 percentage points
across last 12 releases
Last Call
Sep 2026
Predicted: -0.25
Actual: 0
Error: -0.25
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| Nikkei 225 | ▼ Inverse | −0.69 | INDEX | Moves against | → View |
| BTC/USD | ▲ Direct | +0.68 | CRYPTO | Moves with | → View |
| GBP/JPY | ▲ Direct | +0.57 | FOREX | Moves with | → View |
| AUD/JPY | ▲ Direct | +0.47 | FOREX | Moves with | → View |
| EUR/JPY | ▲ Direct | +0.41 | FOREX | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
GDP Private Consumption QoQ (Japan) was reported at 0% in September 2026. This matched the market consensus of 0% exactly. The reading fell from the previous value of 0.4%. Trailing 12-month context per ETL data through September 2026. Over the past 12 months, the indicator has averaged 0.16%, ranging from 0% to 0.3% across 8 releases.
WHY IT MATTERS
The trailing three releases averaged 0.1%, down from the prior three at 0.23%. Volatility over the past year (σ 0.12%) is lower than the prior year (σ 0.32%). In September readings over the past 3 years, GDP Private Consumption QoQ has averaged 0.43%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with Nikkei 225 (Bearish Nikkei 225). A secondary relationship exists with BTC/USD, positively correlated (Bullish BTC). Over the last 12 releases, the Sigmacast model's median absolute error is 0.15%.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Exports YoY (Sep 15) and Balance of Trade (Sep 15).
Auto-generated from current model state · Refreshes on each release · Last update September 2026.
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GDP Private Consumption QoQ - JP
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About GDP Private Consumption QoQ — Japan
DEFINITION
GDP Private Consumption QoQ is a financial indicator that measures the change in the value of goods and services purchased by households and individuals within a country over a specific quarter. It is a key component of a country's Gross Domestic Product (GDP) and provides insight into the overall health and stability of its economy. A positive QoQ growth in private consumption indicates an increase in consumer spending, which can drive economic growth and stimulate business activity. This indicator is closely monitored by economists, policymakers, and investors as it reflects the level of consumer confidence and their ability to contribute to the economy.
WHY THIS INDICATOR MATTERS
Aggregate growth figures anchor cyclical positioning across asset classes and inform fiscal and monetary policy debate. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released quarterly.
WHAT CHANGED THIS MONTH
Latest reading (Apr 2026): actual 0 %, consensus 0.5 %. Prior reading (Apr 2026): 0 %. Before that (Apr 2026): 0 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with Nikkei 225 (Bearish Nikkei 225, r=-0.69) — a useful reference for index-focused traders.
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EXPECTED ZONE
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Economic Calendar - JP Events
| Monday, September 14, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 04:30 | JP | Capacity Utilization | 0.5 | 4.1 | -1.3 | -0.40 | Low |
| 04:30 | JP | Industrial Production MoM | -0.2 | 1.9 | 0.1 | -0.05 | Low |
| 04:30 | JP | Industrial Production YoY | 3.9 | 4.9 | 4.1 | 4.00 | Low |
| Tuesday, September 15, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 04:30 | JP | Tertiary Industry Index MoM | -0.2 | 0.3 | 0.70 | Low | |
| 23:50 | JP | Exports YoY | 23.2 | 18.2 | 18.60 | Medium | |
| 23:50 | JP | Balance of Trade | -634.5 | -1052.6 | -959.65 | High | |
| 23:50 | JP | Imports YoY | 27.8 | 26.3 | 26.15 | Low | |
| 23:50 | JP | Machinery Orders MoM | 9.7 | -2.8 | 1.10 | Medium | |
| 23:50 | JP | Machinery Orders YoY | 16.9 | 15.3 | 18.45 | Medium | |
| 23:50 | JP | Adjusted Trade Balance | -0.69 | -0.98 | -0.92 | Medium | |