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Japan: GDP for the third quarter stands at -0.7% quarter-on-quarter compared to -0.5% expected

Japan’s third-quarter Gross Domestic Product (GDP) was -0.7% quarter-on-quarter, compared to -0.5% forecast and -0.5% previously, the Cabinet Office announced on Friday.

Furthermore, GDP contracted 2.9% year-on-year, compared to the expected 2.1% drop and the previous 2.1% contraction.

About the Gross Domestic Product (GDP) of Japan

The Gross Domestic Product (GDP), published quarterly by Japan’s Cabinet Office, is a measure of the total value of all goods and services produced in Japan during a given period. GDP is considered the main measure of economic activity in Japan. The quarterly reading compares the economic activity of the reference quarter with that of the previous quarter. Typically, a high reading is considered bullish for the Japanese Yen (JPY), while a low reading is considered bearish.

Source: Fx Street

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