JN Prelim GDP q/q

apanese stocks led gains in Asian equities after in-line US inflation data calmed market jitters on Wall Street and kept the Federal Reserve on track to cut interest rates next month. The advance in Tokyo followed economic-growth data that exceeded forecasts, while stocks in Australia also rose. Chinese equities gained after data pointed to signs of stabilization in retail sales and home prices. The S&P 500 and Nasdaq 100 both closed higher Wednesday after year-on-year core consumer prices, which excludes food and energy costs, ...

Japan's economy expanded by a faster-than-expected annualised 3.1 per cent in April-June, data showed on Thursday (Aug 15), rebounding from the previous quarter thanks to a solid pick up in consumption. The data backs up the Bank of Japan's forecast that a solid economic recovery will help inflation sustainably hit its 2 per cent target, and justify raising interest rates further. The increase in gross domestic product (GDP) compared with a median market forecast for a 2.1 per cent gain, and followed a revised 2.3 per cent slump in ...

There is no need to debate whether it was tightening by the Bank of Japan or the fourth consecutive rise in the US unemployment rate that spurred the dramatic market reaction at the start of last week. It seems reasonable that both played a role. And the dramatic unwinding of short yen positions, which appeared to help fuel a recovery of the Swiss franc, Chinese yuan began before the Bank of Japan meeting and the US employment report. Moreover, on the eve of the July 31 BOJ and FOMC meetings, the derivatives market had two Fed rate ...

Japan’s economy shrank in the first quarter as consumers and companies cut spending, underscoring the fragile nature of the recovery and extending a dismal performance stretching back to last summer. Gross domestic product contracted at an annualized pace of 2% in the three months through March, the Cabinet Office said Thursday. Economists had forecast a contraction of 1.2%. Private consumption and capital spending both retreated, while net exports also dragged. Figures for the last quarter of 2023 were revised to show the economy ...

Japan's economy contracted in the first quarter, squeezed by weaker consumption and external demand and throwing a fresh challenge to policymakers as the central bank looks to lift interest rates away from near-zero levels. Preliminary gross domestic product (GDP) data from the Cabinet Office on Thursday showed Japan's economy shrank 2.0 per cent annualised in January-March from the prior quarter, faster than the 1.5 per cent drop seen in a Reuters poll of economists. Downwardly revised data showed GDP barely grew in the fourth ...