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The Cabinet Office released its gross domestic product (GDP) figures for Japan on late Tuesday. Japan's preliminary GDP climbed 0.6% in the first quarter, exceeding expectations for a 0.4% rise, after a 0.3% gain in the fourth quarter. The fourth quarter was revised down from a 0.4% rise.
Business spending climbed by 0.4% in the first quarter, while private consumption rose 0.4%.
Inventories were up 0.5% in the first quarter. Residential housing investments increased 1.8%.
On a yearly basis, Japan's preliminary GDP was up 2.4% in the first quarter, beating forecasts of a 1.5% increase, after a 1.1% in the fourth quarter. The fourth quarter was revised down from a 1.5% gain.
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