Amova Asset Management – Q1 Japan GDP: Export Driven But Improving In Breadth

Comments prepared by Naomi Fink, Chief Global Strategist at Amova Asset Management, regarding Japan’s GDP figures published today.

Q1 Real GDP out-performed expectations, up 0.5% q/q (2.1% annualized) versus 0.4% (1.7% annualized) expected, according to Bloomberg. The GDP deflator, at 3.4% y/y, and the domestic demand deflator at 2.6% y/y compared favorably to the BoJ’s 2%...