Japan's Q4 2016 GDP a tad lower-than-expected

Japanese GDP data for Q4 came better than expected at 0.2% QoQ vs 0.3% exp and 0.3% last, while the GDP annualized (seasonally adjusted) YoY was 1% vs 1.1% exp and 1.3% last. 

As per the GDP nominal (seasonally adjusted) QoQ, came at 0.3% vs 0.5% exp and 0.1% last. The GDP deflator YoY stood at  -0.1%% vs -0.2% exp and -0.2% last. Meanwhile, GDP consumer spending QoQ stood at 0% vs 0.0% exp and +0.3% last., with the GDP business spending at 0.9% exp vs 1.2% exp and -0.3% last. While the headline data looks slightly disappointing, inflationary pressures ticked up a bit, which should be perceived as a slight improvement by the government and the Bank of Japan.