Japan Q1 Final GDP Beats Estimates at 1.8% Annualized as 10-Year JGB Yield Climbs to 2.710%
Japan's final first-quarter GDP expanded at an annualized 1.8%, beating the 1.4% estimate but slowing from the preliminary 2.1% reading. Quarter-on-quarter growth was 0.5%, above the 0.3% forecast and unchanged from the initial estimate. Private consumption rose 0.3%, net exports added 0.3 percentage point and inventories subtracted 0.1 point, while business spending fell 0.7% after a preliminary reading of a 0.3% increase.
The release came as Japanese markets weakened, with the Nikkei down 3.88% and the 10-year JGB yield up 4.5 basis points at 2.710%. The GDP deflator rose 3.2% from a year earlier, below the 3.4% estimate, and the Wall Street Journal reported that rate-hike hopes remained intact.
From the sources (11 posts)
@financialjuiceJapan Q1 revised real GDP annualized rises 1.8% versus preliminary 2.1%, poll 1.3%
@financialjuiceJapan Q1 revised real GDP rises 0.5% quarter-on-quarter, preliminary 0.5%, poll 0.3%
@financialjuiceJapan Q1 refined capex falls 0.7% q/q (prelim +0.3%, poll -0.9%)
@financialjuiceJapan Q1 revised private consumption rises 0.3% quarter on quarter, in line with preliminary data
@financialjuiceJapan q1 revised external demand adds 0.3 percentage point to GDP (preliminary 0.3)
@financialjuiceJapan Q1 revised domestic demand contribution +0.2 percentage point (prelim +0.2 percentage point)
@firstsquawkJAPAN Q1 FINAL GDP GDP ANNUALISED (Q/Q): 1.8% BEAT (EST 1.4%, PREV 2.1%) GDP (Q/Q): 0.5% BEAT (EST 0.3%, PREV 0.5%) GDP NOMINAL (Q/Q): 0.6% IN LINE (EST 0.6%, PREV 0.8%) GDP DEFLATOR (Y/Y): 3.2% MISS (EST 3.4%, PREV 3.4%) PRIVATE CONSU
@firstsquawkJapanese Stocks Under Pressure as Nikkei Drops 3.88%
@firstsquawk10-Year JGB Yield Climbs to 2.710%, Up 4.5 Basis Points
@bulltheoryioBREAKING: Over ¥48,300,000,000,000 ($335 BILLION) wiped out from Japan's stock market as the NIKKEI plunges 4.2%.
@firstsquawkJapan Rate-Hike Hopes Intact Despite Growth Miss-WSJ