TOKYO, March 10 (Reuters) – Japan’s economy grew faster than initially estimated in the October-December period from the previous quarter, revised gross domestic product (GDP) data showed on Tuesday.
The revised figure released by the Cabinet Office showed the economy expanded an annualised 1.3% in the fourth quarter, compared with the initially estimated 0.2%. Economists’ median forecast was for a 1.2% growth.
Without annualisation, GDP grew 0.3%, matching the median forecast for a 0.3% expansion and compared with the initial estimate of a 0.1% rise.
Private consumption, which accounts for more than half of Japan’s economy, increased 0.3%, versus a 0.1% uptick in the preliminary data.
Businesses’ capital expenditure rose 1.3% in the fourth quarter, revised up from the initial estimate for a 0.2% rise and compared with an estimated 1.1% uptick.
External demand, or exports minus imports, was unchanged from the preliminary data of no contribution to GDP. Domestic demand contributed 0.3 percentage point, revised up from zero contribution.
(Reporting by Kantaro KomiyaEditing by Chang-Ran Kim)
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