Japan data - Q3 GDP (preliminary) -1.2% q/q (annualized) vs. +1.1% expected)

[forex4you]

Japan data - Q3 GDP (preliminary) -1.2% q/q (annualized) vs. +1.1% expected)

<p>The first reading for Japan's economic growth in the July, August & September quarter. Negative, ugly print. </p><p>The negative pace of growth compares to the 'rebound' impacted faster rate in Q2. Japan's recovery from the pandemic is sporadic. The external sector, i.e. exports, has been weighed upon by sluggish global demand and 's war on e. On the more positive side are improvement in supply chains, helping Japan's auto manufacturing sector. Japan's job market remains strong, supporting domestic consumption, although negative real wage growth is not helpful.</p><p>More:</p><ul><li>The GDP deflator, which is an inflation indicator, has come in at -0.5% y/y</li><li>private consumption +0.3% q/q (+0.2% was expected), domestic demand contributed +0.4% to GDP</li><li>exports +1.9qpq, but the net contribution of the external sector to GDP was -0.7% (-0.2% expected)</li><li>imports +5.2% q/q, the fastest growth since Q4 of 2020</li></ul><p>-</p>

                This article was written by Eamonn Sheridan at forexlive.com.

Source: Japan data - Q3 GDP (preliminary) -1.2% q/q (annualized) vs. +1.1% expected)

forexlive.com