Japan's gross domestic product gained 0.5 percent on quarter in the first three months of 2017, the Cabinet Office said in Thursday's preliminary reading.
That was in line with expectations and up from 0.3 percent in the previous three months.
On an annualized basis, GDP jumped 2.2 percent – exceeding forecasts for 1.7 percent and up from the upwardly revised 1.4 percent gain in the three months prior (originally 1.2 percent).
Nominal GDP was flat on quarter, missing forecasts for a gain of 0.1 percent and down from 0.4 percent in the previous three months.
The GDP deflator fell 0.8 percent on year, missing expectations for -0.7 percent following the flat reading in the fourth quarter.
Private consumption added 0.4 percent on quarter, shy of expectations for 0.5 percent following the flat reading in the previous three months.
Business spending was up 0.2 percent on quarter, beating forecasts for a fall of 0.4 percent after rising 1.9 percent in the three months prior.
The Japanese economy has expanded in five straight quarters, the first such streak in more than three years.
by RTT Staff Writer
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