Japan’s 3Q GDP growth was -0.4% QoQ, the negative outcome again, following -1.9% QoQ in 2Q. The result was below the market’s estimation (+0.5% QoQ) and we think it has all but ensured that PM Abe will decide a postponement of the second consumption tax hike. He will also decide tomorrow if he should call a Lower House election in December to check the public judge on the delayed tax hike.
Read the full report: FX Daily