Japanese Q4 GDP (preliminary)
GDP (seasonally adjusted) -0.4% q/q
- expected -0.2%, prior +0.3%
GDP Annualized -1.4% y/y:
- expected -0.8%, prior +1.3%, revised from+1.0%
GDP Nominal (seasonally adjusted) -0.3% q/q:
- expected -0.1%, prior +0.6%, revised from +0.4%
GDP Deflator 1.5% y/y:
- expected 1.6%, prior 1.8%
GDP Consumer Spending -0.8% y/y
- expected -0.6%, prior was 0.4%
GDP Business Spending 1.4% y/y
- expected -0.2%, prior was +0.7%, revised from +0.6%
-
Poor GDP figures, softened somewhat by the revisions to the prior (if anyone cares about 6 months ago). That y/y decline is ugly. Private consumption (the 'consumer spending' above) was a big contributor to the downside surprise). Business spending, on the other hand, a nice jump.
At least the BOJ is getting a bit of joy from the deflator - an inflation measure.
more to come
