Japan Preliminary Q3 GDP arrives at 0.1% QoQ vs. 0.2% expected – USD/JPY unmoved
Japan’s economy grew an annualized 0.2% in June-September, less than the estimate of a 0.8% expansion and +1.3% seen last, the preliminary data from the Cabinet Office showed Thursday.
On a quarter-on-quarter, (QoQ) basis GDP expanded 0.1%, compared with a 0.3% growth seen in the previous quarter and a median forecast of 0.2%.
USD/JPY kept its range around 108.80, as the JPY was little affected by the downbeat Japanese Q3 GDP first reading.
About Japanese 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.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
