Japan’s third look at Q3 GDP
- Prelim reading was +21.4% q/q annualized
- Prior was -28.1%
- GDP sa +5.3% q/q vs. expected 5.0%, prior -7.9%
- GDP nominal +5.5% q/q vs. expected 5.2%, prior -7.6%
- GDP deflator (an inflation indication) % vs. expected 1.1%, prior 1.3%
- Private consumption +5.1% vs. expected 4.7% q/q, prior -7.9%
- Business spending -2.4% vs. expected -3.1%, prior -4.7%
- Inventories cut 0.2 pp from GDP
This is a decent upgrade and a solid surprise.