The Nikkei Is Sliding After Big GDP Report
May 15, 2014, 06:22 IST
Advertisement
The Nikkei is down 1.44% in early going.
This comes after a strong GDP report.
Our colleagues at Business Insider Australia report:
The results show Japan's economy is slowly getting cracking again with the first quarter results beating market expectations of 1% to hit a seasonally adjusted annualised rate of 5.9%.
Advertisement
...
One of the biggest drivers of the surge was consumer consumption leading up to the April 1 sales tax increase from 5% to 8%. Private consumption reached an annualised rate of 8.5% and helped mitigate the drag down effects of external demand - particularly from the US, one of Japan's biggest export destinations.
The strong number may damp any talk of further BOJ easing, which may be what is hitting the Nikkei.