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Japan Final Q1 GDP Revised Up To +1.0% On Quarter

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Japan's gross domestic product gained a seasonally adjusted 1.0 percent in the first quarter of 2013 compared to the previous three months, the Cabinet Office said in Monday's final revision.

The headline figure was higher than last month's preliminary reading that suggested an increase of 0.9 percent. It was also higher than the flat reading in the fourth quarter of 2012.

On a yearly basis, GDP was revised up to 4.1 percent from the preliminary read of 3.5 percent. It was also sharply higher than the 0.2 percent gain in the previous three months.

Nominal GDP was up 0.6 percent on quarter, also beating forecasts for a 0.4 percent gain following the 0.1 percent increase in Q4.

The GDP deflator contracted 1.1 percent on year versus expectations for a decline of 1.2 percent after dipping 0.7 percent in the three months prior.

Private capital spending was down a revised 0.3 percent on quarter versus the preliminary reading for a 0.7 percent contraction.

Domestic demand added 0.6 percent on quarter, up from last month's figure of 0.5 percent.

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