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Japan GDP Rises 0.9% On Quarter In Q1

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

Japan's gross domestic product expanded 0.9 percent in the first quarter of 2013 compared to the previous three months, the Cabinet Office said in Thursday's preliminary report.

The headline figure beat forecasts for an increase of 0.7 percent following the flat reading in the previous three months. Q4's reading barely broke a string of three straight quarters in the red.

On a yearly basis, GDP jumped 3.5 percent - also topping expectations for a gain of 2.7 percent following the upwardly revised 0.2 percent increase in Q4.

Nominal GDP was up 0.4 percent on quarter, just shy of forecasts for 0.5 percent after dipping 0.3 percent in the previous quarter.

The GDP deflator was down 0.4 percent on quarter after easing 0.3 percent in the three months prior. On year, the deflator was down 1.2 percent versus forecasts for 0.9 percent after falling 0.7 percent in Q4.

Capital spending declined 0.7 percent on quarter, missing expectations for an increase of 0.7 percent following the 1.5 percent contraction in the previous three months.

Private consumption added 0.9 percent, while exports made a 0.4 percent net contribution to GDP.

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