Japan’s Q1 GDP grows 1.8% q/q annualized
Japan’s economy expanded 1.8% q/q annualized in Q1, beating expectations of 1.3%.
The preliminary reading for Q4 was +0.8% q/q. Private consumption rose 0.3%, matching the preliminary estimate and up from 0.0% in Q4.
The current account surplus for April was 3907B yen, exceeding the expected 3136B yen. This report supports the yen, with USD/JPY above 160.00.