The Japanese GDP final reading has contracted by 0.9% during for the first quarter, following a contraction 0.9% in the fourth quarter of 2010, while the analysts' expectations referred to -0.8%.

Moreover, Japan's annualized GDP final reading came out at -3.5% in 1st quarter, compared with a previous shrink by 3.7% a year earlier, while the analysts' forecasts estimated of -3.0%.

Nominal GDP in Japan dropped by 1.3% the quarter through March, while the actual reading came inline with both the prior reading and the anticipations.