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Japan first quarter GDP up 0.3% on quarter, 1.0% on year, missing expectations

Japanese yen
John Phillips | Digital Editor for CNBC.com
Japanese yen

Japan on Thursday said GDP for the first quarter came in weaker than expected with a 0.3 percent gain on quarter and at a 1.0 percent pace annually, with the year-on-year figure revised down from a preliminary estimate of a 2.2 percent growth

A Reuters poll of analysts saw quarter figures up 0.6 percent and the annual level at a gain of 2.4 percent. After the data, Japan's cabinet office said its view the economy is in moderate recovery remains intact.