Japanese preliminary Q4 GDP data:
GDP for Q4 2.2% y/y
- expected was +3.7%, prior was -1.9%
GDP for Q4 +0.6% q/q
- expected 0.9%, prior was -0.5%
- Private consumption +0.3 % q/q (expected +0.7%)
- Capex +0.1 % q/q (expected: +1.0 % q/q)
- External demand contribution to GDP +0.2 % (expected: +0.3%)
- Domestic demand contribution to GDP +0.3%
- GDP deflator +2.3 % yr/yr
Japan emerges from recession, but a miss on expectations
Yen has strengthened a few pips