Japan's Gross Domestic Product released by the Cabinet Office has been released as follows:
Japan's economy grew an annualised 0.6% in the final three months of 2022, government data showed on Tuesday, bouncing back from the previous quarter's contraction as the return of inbound tourists offset a slowdown in capital expenditure and exports, Reuters explained.
''The fourth-quarter growth of Japan's economy, the world's third-largest, compared with the median estimate of a 2.0% gain in a Reuters poll of 18 economists.''
Key notes
Japan's Oct-Dec annualised GDP+0.6% (poll: +2.0%).
Japan real GDP +0.2% QoQ (Reuters poll: +0.5%).
Japan Oct-Dec private consumption +0.5% QoQ (poll: +0.5%).
Japan Oct-Dec Capex -0.5% qtr/qtr (poll: -0.2%)
Japan Oct-Dec external demand contribution to GDP +0.3 pct point (poll: +0.4 pct pt).
Japan exports +1.4% qtr/qtr
Japan domestic demand contribution to GDP -0.2 pct point
Japan GDP deflator +1.1% YoY.
USD/JPY update
The Yen is softer on the release but the bears are lurking with 132.00 eyed at the bottom of the 100-pip box as illustrated above in a declining market since the start of the week's highs.
About the 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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