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Japan Q3 GDP Expands 0.5% On Quarter

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Japan's gross domestic product added 0.5 percent in the third quarter of 2013 compared to the previous three months, the Cabinet Office said in Thursday's preliminary reading.

That beat forecasts for an increase of 0.4 percent, although it slowed from the 0.9 percent gain in the second quarter.

On an annualized basis, GDP climbed 1.9 percent - also topping expectations for a gain of 1.7 percent but only half of the Q2 increase of 3.8 percent.

The GDP deflator was down 0.3 percent on quarter, topping forecasts for -0.5 percent- which would have been unchanged.

Nominal; GDP was up 0.4 percent on quarter, matching expectations following the revised 1.1 percent gain in the previous three months.

The consumer spending component of GDP added just 0.1 percent on quarter - missing forecasts for 0.2 percent and down from 0.6 percent in Q2.

The business spending component was up 0.2 percent on quarter, well shy of forecasts for 1.0 percent and down from the revised 1.1 percent increase in the three months prior.

Domestic demand was up 3.7 percent on year as private demand added 2.8 percent and public demand collected 6.5 percent.

External demand subtracted 0.5 percentage points from GDP, while inventories contributed 0.4 percentage points.

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