If you look [at the full graph](https://fred.stlouisfed.org/series/JPNNGDP), I think it’s hard to call this a “rebound,” especially considering that the economy hasn’t yet recovered to the Q3 2019 value. The big drop just after Q3 2019 but before the pandemic can be attributed to the consumption tax being raised from 8% to 10% in [October 2019](https://www.tsunagulocal.com/en/4875/) during the 2nd Abe administration.
> “The economy managed to return to its pre-pandemic size, but its recovery pace has been slower than other nations,” said economist Takeshi Minami at Norinchukin Research Institute. “I expect growth to continue in the third quarter too, but it will likely be losing momentum down the road.”
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If you look [at the full graph](https://fred.stlouisfed.org/series/JPNNGDP), I think it’s hard to call this a “rebound,” especially considering that the economy hasn’t yet recovered to the Q3 2019 value. The big drop just after Q3 2019 but before the pandemic can be attributed to the consumption tax being raised from 8% to 10% in [October 2019](https://www.tsunagulocal.com/en/4875/) during the 2nd Abe administration.
Regarding forecasts for future growth, here’s a quote from the recent [Bloomberg article](https://www.bloomberg.com/news/articles/2022-08-15/japan-s-economy-accelerates-following-relaxation-of-covid-curbs) about this 2.2% GDP growth:
> “The economy managed to return to its pre-pandemic size, but its recovery pace has been slower than other nations,” said economist Takeshi Minami at Norinchukin Research Institute. “I expect growth to continue in the third quarter too, but it will likely be losing momentum down the road.”