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Japan’s economy grew an annualized 0.2% in June-September, less than the estimate of a 0.8% expansion and +1.3% seen last, the preliminary data from the Cabinet Office showed Thursday.

On a quarter-on-quarter, (QoQ) basis GDP expanded 0.1%, compared with a 0.3% growth seen in the previous quarter and a median forecast of 0.2%.

USD/JPY kept its range around 108.80, as the JPY was little affected by the downbeat Japanese Q3 GDP first reading.

About Japanese GDP

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.