Japanese GDP rose 5.3% in the first quarter from a revised 0.1% in the fourth quarter on rising consumer expenditures. Economists were forecasting 2.5%.

 

On a quarter-on-quarter basis, GDP increased 1.3%. Economists were expecting 0.6%. Nominal GDP which isn't adjusted for price changes rose 2.3% at an annual pace. On a quarter-on-quarter basis, nominal GDP rose 0.6%. Economists were expecting 0.2%.

 

Consumer spending rose 1.2%. Household spending was up 2.2%, the biggest gain in eight years. Capital spending climbed 2%.