Japan GDP: Japan's economy grew an annualised of just 0.6%, Yen's a touch weaker

Japan's Gross Domestic Product released by the Cabinet Office has been released as follows:

Japan's economy grew an annualised 0.6% in the final three months of 2022, government data showed on Tuesday, bouncing back from the previous quarter's contraction as the return of inbound tourists offset a slowdown in capital expenditure and exports, Reuters explained. 

''The fourth-quarter growth of Japan's economy, the world's third-largest, compared with the median estimate of a 2.0% gain in a Reuters poll of 18 economists.''

Key notes

Japan's Oct-Dec annualised GDP+0.6% (poll: +2.0%).
    
Japan real GDP +0.2% QoQ (Reuters poll: +0.5%).
    
Japan Oct-Dec private consumption +0.5% QoQ (poll: +0.5%).
    
Japan Oct-Dec Capex -0.5% qtr/qtr (poll: -0.2%)
    
Japan Oct-Dec external demand contribution to GDP +0.3 pct point (poll: +0.4 pct pt).
    
Japan exports +1.4% qtr/qtr
    
Japan domestic demand contribution to GDP -0.2 pct point
    
Japan GDP deflator +1.1% YoY.

USD/JPY update

More to come...

About the 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.