Japan Q4 GDP - A bright spot

Japan GDP data was out earlier today:

• Japan Q4 GDP: -0.4% q/q (expected -0.2%)

and:

• Japan weak Q4 GDP: Matter of time before BOJ & government will add additional stimulus

BOJ economists are reported looking at the tiny bright spot in the Q4 GDP data:

• A unexpected rise in business investment
• To confirm that the positive growth cycle is intact despite weaker-than-expected contraction in the total output

Its not all roses, though:

• A worrying sign in the GDP deflator that indicates the underlying price trend, which the bank officially sees as "improving steadily," may slip back into a downtrend