Japan GDP preliminary for Q1 2022: -0.2% q/q (vs. expected -0.4%)

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Japan GDP preliminary for Q1 2022:    -0.2% q/q (vs. expected -0.4%)

Japan GDP preliminary for Q1 2022
GDP sa -0.2% q/q

    expected -0.4%, prior +1.1%


GDP annualised sa -1.0% y/y

    expected -1.8%, prior +4.6%

GDP deflator (an inflation indication) -0.4% y/y

    expected -1.2%, prior -1.3%

 
Private consumption 0.0% q/q

    expected -0.5% q/q, prior 2.4%

 
Business spending 0.5% q/q

    expected 0.7%, prior 0.3%


External demand -0.4% q/q

    expected -0.3%, prior 0.2%


Not as dire as expected. A Japanese government official commenting on the results says the contraction was caused mainly by rises in imports (ie. net external demand slipping).
Check out the deflator, which is an indication to inflation. Negative, but not as negative as expected. 
 
USD/JPY update, not a lot of change so far for the session here. 

Source: Japan GDP preliminary for Q1 2022:    -0.2% q/q (vs. expected -0.4%)

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