In Japan, the GDP suffers of the brake of the outside sector
The growth of the GDP in the 4T17 disappointed the expectations (0.1%), after the strong dynamism of the central quarters of the year (0.6% in average), basically, because of the recovery of the imports (the outside sector took away 0.1 p.p. after contributing 0.6 p.p. in the 3T17). In the short term, expect that the economy remains growing to rhythms of 0.2%-0.4% quarterly, a more unpretentious growth that last year, because of the smaller fiscal stimulus, the loss of skills of purchase of the families and to an outside sector that will be still a burdens for the growth.
Source: Bankia Studies