Huge beat for Japanese economic growth.
Note the Deflator, it's a measure of inflation and its jumped to +3.4%, well above Q1 and what was expected, although I have seen higher estimates elsewhere. The +3.4% q/q is its highest since Q1 of way back in 1981.
More:
Domestic private consumption -0.5% in Q2, a very disappointing result and its first fall in 3 quarters
- expected +0.1%, prior +0.5%
External demand +1.8% q/q
- expected +0.9%, prior -0.3%
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USD/JPY is not doing a whole lot, its lower by a few points. That higher inflation measure argues for some sort of trimming of easing from the Bank of Japan. The Bank continues to insist that inflation is transitory though.
