Japan’s gross domestic product climbed 0.6 percent on quarter in the first quarter of 2015, the Cabinet Office said in Wednesday’s preliminary reading.
That topped expectations for an increase of 0.4 percent, and it was up from the downwardly revised 0.3 percent rate of growth in the fourth quarter (originally 0.4 percent).
On an annualized yearly basis, GDP climbed 2.4 percent – also exceeding forecasts for an increase of 1.6 percent following the downwardly revised 1.5 percent gain in the three months prior (originally 1.1 percent).
Business spending was up 0.4 percent on quarter – turning positive for the first time in a year, although it was still shy of forecasts for an increase of 0.8 percent. Capex was flat in the fourth quarter.
The GDP deflator was up 3.4 percent, which was below forecasts for 3.6 percent – although still up from 2.4 percent in the previous three months.
Private consumption added 0.4 percent on quarter – unchanged but beating expectations for an increase of 0.2 percent.
Nominal GDP advanced 1.9 percent on quarter – beating estimates for 1.5 percent and up from 0.7 percent in the three months prior.
Upon the release of the data, the yen was fairly flat at 120.70 to the U.S. dollar.
The material has been provided by InstaForex Company – www.instaforex.com