Japan Q3 GDP -0.7% q/q (preliminary was -0.5%, prior +1.2%)

The advance reading for Japan's Q3 economic growth is here:

• Japan preliminary Q3 GDP -0.5% q/q (expected -0.1%)

The deflator is a measure of inflation, it came in at 5.3%

• expected 5.1%, prior 5.1%

More:

• External demand contribution to GD was -0.1%
• Domestic consumption contribution was an awful -0.6%

Economic growth in Q3 was initially thought to have been down by 0.5% but the contraction was greater than that at -0.7%. Meanwhile, inflation is strong, the deflator showing it above 5%. Yesterday Ueda said there were tough times ahead. They are already here according to these numbers.