Japan Gross Domestic Product beats estimates, JPY stays bid
|Japan's Gross Domestic Product has been released as follows:
- Japan GDP SA QoQ Q3F: -0.2% (est -0.3%, prev -0.3%).
- Japan GDP Annualised Q3F: -0.8% (est -1.0%, prev -1.2%).
- Japan GDP Nominal SA Q/Q Q3F: -0.7% (est -0.4%, prev -0.5%).
Japan's economy shrank at an annualised 0.8% in the July-September quarter, slower than the initial estimate of a 1.2% contraction, revised government data showed on Thursday.
The revised figure for gross domestic product (GDP) released by the Cabinet Office compared with economists' median forecast for a 1.1% decline in a Reuters poll.
On a quarter-on-quarter basis, GDP contracted 0.2%.
USD/JPY update
The bears are moving in from a key area of resistance and a break of 132.50 opens prospects of amove into 130.00.
About Japan GDP
The Gross Domestic Product released by the Cabinet Office shows the monetary value of all the goods, services and structures produced in Japan within a given period of time. GDP is a gross measure of market activity because it indicates the pace at which the Japanese economy is growing or decreasing. A high reading or a better-than-expected number is seen as positive for the JPY, while a low reading is negative.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.