Market reaction was muted. The benchmark Nikkei equity index was down 0.2 percent in early trade; the data were released just prior to market open. The dollar-yen pair initially spiked as high as 101.41, from around 101.19 just prior to the release. At 8:43 a.m. HK/SIN, the pair was at 101.31.
Private consumption, which makes up around 60 percent of GDP, edged up 0.2 percent on-quarter, slowing from the previous quarter's 0.6 percent growth. Meanwhile, domestic demand's contribution to GDP was 0.3 percentage point.