Japanese GDP QoQ arrives at 3% vs 2.3% expected and 5.3% prior

The Japanese Gross Domestic Product released by the Cabinet Office has arrived as follows:

• 3% vs 2.3% expected and 5.3% prior.

The Gross Domestic Product released by the Cabinet Office shows the monetary value of all the goods, services and structures produced in Japan within a given period of time. GDP is a gross measure of market activity because it indicates the pace at which the Japanese economy is growing or decreasing. A high reading or a better than expected number is seen as positive for the JPY, while a low reading is negative.