Japan’s Q3 Gross Domestic Product preliminary result arrives at 5.0% QoQ vs. expected 4.4%, but the yen is unchanged.
Key notes
- July-Sept private consumption rises for the first time in four quarters.
- CAPEX falls for the second straight quarter.
- Exports rose for the first time in three quarters.
- GDP posts fastest expansion since comparable data became available in 1980.
- GDP posts first expansion in four quarters.
- Private consumption rises for first time in four quarters, marks the fastest pace of gain since comparable data became available in 1980.
- Japan govt official: Consumption rose for dine-outs, leisure, automobiles.
The Japanese currency, the yen, was unchanged on the data as the improvement only partially offset the 7.9% contraction from the second quarter.
Description of Gross Domestic Product
The Gross Domestic Product released by the Cabinet Office shows the monetary value of all the goods, services and structures produced in Japan within a given period of time.
GDP is a gross measure of market activity because it indicates the pace at which the Japanese economy is growing or decreasing.
A high reading or a better than expected number is seen as positive for the JPY, while a low reading is negative.
This article was originally published by Fxstreet.com. Read the original article here.