Japan revised its growth forecast negatively

According to the data released by the Japan Cabinet Office, GDP in the past quarter remained unchanged compared to the previous quarter. The expectation in the markets was that there would be an increase at the same level in the period that was estimated as 0.2 percent increase according to the leading data.

In the same period, the annual increase was revised from 0.6 percent to 0.1 percent. Markets had forecast the increase to be 0.6 percent.

Nominal GDP was revised down from 1.3 percent to 1.2 percent, while domestic demand was cut from 0.2 percent to 0.3 percent.

Foreign demand, on the other hand, increased from 0.3 percent to 0.4 percent.

Household spending was revised up from 0.5% to 0.3%.