According to data released by the Cabinet of Ministers of Japan, the country's GDP in the third quarter increased by 0.5%, from the previous value of 0.2%. In annual terms, the indicator rose by 2.2% in the third quarter, after rising 0.7% in the second quarter. Economists had expected Japan's economy to grew by 0.9% y/y. Japanese gross domestic product estimates the growth or decline of the economy and is a key macroeconomic indicator of market activity.