Economic growth data from Japan for the July - September quarter. Preliminary only at this stage.

GDP (seasonally adjusted), preliminary, 0.3% q/q ... miss

  • expected 0.4%, prior 0.6%

GDP Annualized (seasonally adjusted), preliminary 1.4% y/y ... miss

  • expected 1.5%, prior 2.5%

GDP Nominal (seasonally adjusted), preliminary 0.6% q/q ... in line

  • expected 0.6%, prior 0.7%

GDP Deflator y/y for Q2, preliminary, 0.1% ... in line

  • expected 0.1%, prior -0.4%
  • the deflator is an inflation measure ... the BOJ has sure got more work to do (no surprise)

GDP Consumer Spending, -0.5% q/q ... miss

  • expected is -0.4%, prior was 0.8%

GDP Business Spending, preliminary 0.2% q/q ... miss

  • expected 0.3%, prior was 0.5%

And, as usual on Japanese data releases, the yen not doing too much at all.

More:

  • economy has grown for 7 consecutive quarters (longest period of uninterrupted growth in more than a decade)
  • strong exports a big reason, net exports (exp - imports added 0.5%)
  • Private consumption was (as you can see above) weak but is expected to recover with such strong employment results we've been seeing from Japan (consumer number the first decline since October-December 2015)