Japan Gross Domestic Product Annualized increase to 3.5% in 1Q from 1%

Japan's 1Q GDP came above market expectations, registering annual growth at 3.5% vs 2.7% expected. On a quarterly basis, Japan's Q1 GDP stood at +0.9% vs 0.7%. In nominal terms, Japan Q1 nominal GDP rose to +0.4% q/q vs +0.5% expected. Japan Q1 preliminary GDP deflator came at -1.2% y/y vs -0.9% expected).