Japan's Q3 GDP has been revised down to +0.3% on quarter from a previous estimate of +0.5% and +0.5% in Q2.
On year, GDP +1.1% vs +1.9% and +1.9%. (PR)
Bank lending +2.2% in November vs +2% in October. (PR)
Current account deficit ¥127.9B ($1.24B) in October vs surplus of ¥587.3B in September and consensus of ¥153B. (PR)
"A downward revision in capital expenditure was what weighed on the revised figures," says RBS Securities Japan chief economist Junko Nishioka. However, the figures mark the bottom of the capex cycle, Nishioka says. "I expect capital spending to return to a recovery trend in the October-December quarter," she predicts.
The Nikkei is +2.3% and the USD-JPY is +0.2% at ¥103.05, with the stock index and the dollar boosted by the strong U.S. jobs report on Friday.