July to September Japanese economic growth, first reading
GDP sa q/q 0.1% for a miss
- expected 0.2%, prior 0.3%
GDP annualised sa q/q 0.2% for a miss
- expected 0.9%, prior 1.3%
GDP nominal q/q 0.3%
- expected 0.5%, prior 0.4%
GDP deflator (an inflation indication) %
- expected 0.5%, prior 0.4%
Private consumption 0.4% q/q
- expected 0.6% q/q, prior 0.6%
Business spending 0.9% q/q
- expected 0.9%, prior 0.2%
On the bright side this is the 4th consecutive quarter of GDP growth for Japan. Not so bright - its the slowest since coming out of contraction a year ago.
Consumer spending likely got a boost ahead of the sales tax hike on October 1 … but check out the number - its a miss on estimates so what sepdning there was was not as big as might have been thought. Business spending held up,which is a positive.
more to come
