FX.co ★ Japan GDP Climbs 0.4% On Quarter In Q1

Japan's gross domestic product expanded a seasonally adjusted 0.4 percent on quarter in the first quarter of 2012, the Cabinet Office said in Wednesday's preliminary reading.

That beat expectations for a gain of 0.1 percent following the flat reading in the three months prior.

On an annualized basis, GDP jumped 1,6 percent - again topping forecasts for an increase of 0.7 percent following the downwardly 0.1 percent contraction in the previous three months (originally +0.1 percent).

Capital expenditure climbed 0.9 percent on quarter, beating forecasts for a decline of 0.4 percent following the downwardly revised 0.7 percent contraction in the previous quarter (originally -0.5 percent).

External demand fell 0.3 percent on quarter, while private consumption rose 0.6 percent on quarter.