Japan GDP worse than expected, yen unfazed
|Reuters reported that Japan's economy grew 4.6% in the fourth quarter, less than the preliminary estimate of a 5.4% expansion, revised government data showed on Wednesday.
The revised figure for Gross Domestic Product (GDP) released by the Cabinet Office compared with economists' median forecast for a 5.6% rise in a Reuters poll.
On a quarter-on-quarter basis, GDP rose 1.1%, lower than the initial reading of 1.3% and median forecast for a 1.4% increase.
USD/JPY trades around 0.12% higher on the day at 115.76.
About 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.
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