2019.05.1921:00:00UTC+00Japan Q1 GDP Surprises To The Upside, Expands 0.5% On Quarter

Japan's gross domestic product climbed a seasonally adjusted 0.5 percent on quarter in the first quarter of 2019, the Cabinet Office said in Monday's preliminary reading.

That beat forecasts for a fall 0.1 percent and up from the downwardly revised 0.4 percent gain in the three months prior (originally 0.5 percent).

On an annualized yearly basis, GDP was up 2.1 percent - again exceeding expectations for a fall of 0.2 percent following the downwardly revised 1.6 percent gain in the previous three months (originally 1.9 percent).

Nominal GDP was up 0.8 percent on quarter, beating forecasts for a rise of 0.1 percent and up from 0.5 percent in Q4.

The GDP deflator added an annual 0.2 percent, matching forecasts following the 0.3 percent slide in the three months prior.

GDP private consumption eased 0.1 percent on quarter, beating forecasts for a decline of 0.2 percent following the 0.2 percent increase in the previous three months.

GDP business spending sank 0.3 percent on quarter versus forecasts for a drop of 1.9 percent following the 2.5 percent gain in Q4.