GDP (seasonally adjusted) for Q3, preliminary: -0.4% q/q

  • expected 0.5%, prior -1.9% revised from -1.8%

GDP Annualized (seasonally adjusted) for Q3 preliminary: -1.6% y/y

  • expected 2.2%, prior -7.3%, revised from -7.1%

GDP Nominal (seasonally adjusted) for Q3, preliminary q/q: -0.8%

  • expected 0.4%, prior -0.1%, revised from -0.2%

GDP Deflator y/y for Q3, preliminary: 2.1%

  • expected 1.9%, prior 2.0%

GDP Private Consumption q/q for Q3, +0.4%

  • expected is 0.8%, prior was -5.0% revised from -5.1%

GDP Business Spending y/y for Q3, -0.2%

  • Expected 0.9%, prior was -4.8% (revised from -5.1%)

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Japan slips back into recession with these terrible GDP results today

Private consumption in below forecast, but still a net positive, but a dreadful shock from business spending (capex), coming in not only below expectations but as a negative.

USD/JPY to a new 7-year high … updated –> new high above 117 (117.05 the high)