Japan Revises Down Oct. - Dec. Gdp
The Japanese government has revised downward the country's GDP reading for the latest quarter.
The Cabinet Office says the economy grew at an annualized 11.7 percent in real terms from October to December. The preliminary figure announced last month was 12.7 percent. It was the second consecutive quarter of expansion.
Capital investment was revised down slightly to 4.3 percent quarter-on-quarter, from 4.5 percent previously.
Consumer spending, which accounts for more than half of Japan's GDP, was unchanged at 2.2 percent.
The figure for exports was also unchanged at 11.1 percent on strong shipments to China.
The government kept its figure for the full year unchanged at minus 4.8 percent in real terms, as the coronavirus pandemic weighed on the economy.
It was the first downturn since 2009 amid the global financial crisis.