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Japan GDP Rises 1.0% On Quarter In Q1

5/16/2012 8:04 PM ET

Japan's gross domestic product expanded 1.0 percent in the first quarter of 2012 compared to the previous three months, the Cabinet Office said on Thursday in a preliminary report - beating forecasts for a 0.9 percent gain following the upwardly revised flat reading in the fourth quarter of 2012.

On a yearly basis, GDP was up 4.1 percent - also topping forecasts for a 3.5 percent increase following the upwardly revised 0.1 percent gain in Q4.

Nominal GDP was up 1.0 percent on quarter, matching forecasts following the upwardly revised 0.3 percent decline in the previous three months.

The deflator contracted 1.2 percent on year, beating forecasts for a fall of 1.5 percent following the upwardly revised 1.9 percent decline in Q4.

by RTT Staff Writer

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