Low expectations and even a miss on those.

more to come

GDP sa -1.6% q/q

  • expected -1.0%, prior 0.4%

GDP annualised sa -6.3% q/q … so ugly, biggest fall since 2014

  • expected -3.8%, prior 1.8%

GDP nominal q-1.2% q/q

  • expected -0.6%, prior 0.6%

GDP deflator (an inflation indication) 1.3%

  • expected 1.1%, prior 0.6% ... some encouragement for the BOJ?

Private consumption -2.9% q/q

  • expected -2.0% q/q, prior 0.5%

Business spending -3.7% q/q

  • expected -1.6%, prior 1.8%

Just awful GDP numbers. Sales tax and typhoon impact cited.

  • imports fell, first time in 3 quarters
  • exports fell for 2nd consecutive quarter

Just wait for Q1 and the coronavirus impact.