AI Data Insight
In Q1 2026, the increase in private inventories of Japan's nominal GDP plummeted to -2,829.0 billion JPY, indicating significant destocking compared to the previous figure of -325.3 billion JPY. Although destocking negatively contributed approximately -0.1 percentage points to real GDP, Japan's overall GDP still outperformed expectations, supported by consumption and exports. Going forward, close attention should be paid to whether geopolitical issues and supply chain bottlenecks trigger a new round of inventory restocking.