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Data from World Bank. Forecasts by Sigmanomics Forecast Engine.
JapanJapan Government Expense (% of GDP) fell to 20.93 Percent in December 2022
World BankYearlyReleased December 2022
Japan Government Expense (% of GDP) fell to 20.93 Percent in December 2022, down 0.69 Percent from November's 21.62 Percent reading.
Latest Release
20.931194
Actual
—
Consensus
21.618650
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Watch | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Watch | → View |
| USD/JPY | ▲ Direct | +0.30 | FOREX | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Government Expense (% of GDP) (Japan) was reported at 20.93 Percent in December 2022. The reading fell from the previous value of 21.62 Percent. This is classified as a medium-impact indicator released on a yearly basis.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged 22.05 Percent, up from the prior three at 16.23 Percent.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Housing Starts YoY (May 28) and Unemployment Rate (May 28).
Auto-generated from current model state · Refreshes on each release · Last update December 2022.
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Government Expense (% of GDP) - JP
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About Government Expense (% of GDP) — Japan
WHY THIS INDICATOR MATTERS
Aggregate growth figures anchor cyclical positioning across asset classes and inform fiscal and monetary policy debate. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released annually.
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.
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Economic Calendar - JP Events
| Tuesday, May 26, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 05:00 | JP | Leading Index MoM | 1.3 | 1.3 | 1.70 | Low | |
| 05:00 | JP | Coincident Indicator MoM | -1.8 | 0.3 | 0.20 | Low | |
| Thursday, May 28, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 05:00 | JP | Housing Starts YoY | -29.3 | 15.5 | 15.50 | Medium | |
| 05:00 | JP | Construction Orders YoY | -14.4 | 3.6 | 3.60 | Low | |
| 23:30 | JP | Jobs/applications ratio | 1.18 | 1.18 | 1.18 | Low | |
| 23:30 | JP | Core CPI YoY | 1.5 | 1.5 | 1.50 | Low | |
| 23:30 | JP | Unemployment Rate | 2.7 | 2.7 | 2.70 | Medium | |
| 23:30 | JP | CPI YoY | 1.5 | 1.6 | 1.60 | Low | |
| 23:50 | JP | Industrial Production YoY | 2.4 | 1.5 | 1.50 | Low | |
| 23:50 | JP | Industrial Production MoM | -0.4 | -1 | -1.00 | Medium | |
| 23:50 | JP | Retail Sales YoY | 1.7 | 1.3 | 1.30 | Medium | |
| 23:50 | JP | Retail Sales MoM | 1.3 | -0.5 | -0.50 | Low | |
| Friday, May 29, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 05:00 | JP | Consumer Confidence | 32.2 | 32 | 32.00 | High | |