JPY: Q1 GDP better than the forecasts - TDS

Research Team at TDS, notes that the Japanese Q1 Preliminary GDP rose +0.4%/qtr, much better than the +0.1%/qtr forecast by the market, the economy dodging a technical recession.

Key Quotes

“Private consumption rebounded +0.5%, but Business spending declined –1.4%, more than the –0.8% forecast. Today’s data should see demands for a rate cut and delay of a sales tax hike take a back seat for now, even though the Bank is well away from the 2% inflation target.”