Japanese GDP QoQ arrives at 3% vs 2.3% expected and 5.3% prior
The Japanese Gross Domestic Product released by the Cabinet Office has arrived as follows:
- 3% vs 2.3% expected and 5.3% prior.
The Japananese Economic Minister, Nishimura, has started that the economic recovery is at the half way point but still below pre-pandemic levels.
The data has failed fend off the US dollar bulls and the price remains firm above the 105 figure, higher by 0.13% at the time of writing.
USD/JPY 15-min chart
About Gross Domestic Product
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
Ross J Burland
FXStreet
Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.
