Japan data - Q3 GDP (preliminary) -1.2% q/q (annualized) vs. +1.1% expected)

The first reading for Japan's economic growth in the July, August & September quarter. Negative, ugly print.

The negative pace of growth compares to the 'rebound' impacted faster rate in Q2. Japan's recovery from the pandemic is sporadic. The external sector, i.e. exports, has been weighed upon by sluggish global demand and Russia's war on Ukraine. On the more positive side are improvement in supply chains, helping Japan's auto manufacturing sector. Japan's job market remains strong, supporting domestic consumption, although negative real wage growth is not helpful.

More:

• The GDP deflator, which is an inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term indicator, has come in at -0.5% y/y
• private consumption +0.3% q/q (+0.2% was expected), domestic demand contributed +0.4% to GDP
• exports +1.9qpq, but the net contribution of the external sector to GDP was -0.7% (-0.2% expected)
• imports +5.2% q/q, the fastest growth since Q4 of 2020

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