Japan's gross domestic product climbed 2.2 percent on year in the third quarter of 2016, the Cabinet Office said in Monday's preliminary report.
That was well above forecasts for a gain of 0.8 percent following the 0.7 percent increase in the three months prior.
On a quarterly basis, GDP expanded 0.5 percent – also topping expectations for 0.2 percent, which would have been unchanged from Q2.
Nominal GDP was up 0.2 percent versus forecasts for a decline of 0.1 percent following the 0.3 percent gain in the previous three months.
The GDP deflator was down 0.1 percent on year versus expectations for an increase of 0.3 percent and down from 0.7 percent in the three months prior.
Private consumption was up 0.1 percent on quarter, beating expectations for a flat reading following the 0.2 percent gain in the second quarter.
Business spending disappointed, coming in unchanged on a quarterly basis versus expectations for an increase of 0.2 percent. Spending was down 0.1 percent in Q2.
by RTT Staff Writer
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