Japan's gross domestic product jumped 0.4 percent on quarter in the first quarter of 2016, the Cabinet Office said on Wednesday.
That topped forecasts for an increase of 0.1 percent following the downwardly revised 0.4 percent contraction in the previous three months (originally -0.3 percent).
On a yearly basis, GDP surged 1.7 percent – blowing away forecasts for a gain of 0.3 percent following the downwardly revised 1.1 percent contraction in the three months prior (originally -1.1 percent).
Nominal GDP added 0.5 percent on quarter – in line with expectations after slipping 0.2 percent in the previous quarter.
The GDP deflator added 0.9 percent on year – shy of expectations for 1.0 percent and slowing from 1.5 percent in the three months prior.
Private consumption added 0.5 percent on quarter, exceeding estimates for 0.2 percent following the 0.8 percent contraction in the previous three months.
Business spending skidded 1.4 percent on quarter versus forecasts for a 0.8 percent decline following the 1.2 percent increase in the previous three months.
by RTT Staff Writer
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