Japan's Q4 GDP expands after two quarters of contraction

FXStreet (Bali) - Japanese Q4 GDP came at 2.2% on a yearly basis, while rising +0.6% in Q4, which fell short of expectations of +0.9%, with a previous Q3 read revised down to -0.6% from -0.5%.

The economy expanded for the first time after the sales tax increase last year, main contributor causing a contraction for two straight quarters. An expected pick-up in exports helped Japan's growth to return to positive territory, the Cabinet Office said on Monday.