(MENAFN) The Japanese government said that it has revised fourth-quarter gross domestic product (GDP) growth down, due to slightly weaker corporate capital expenditures and private inventories, Xinhua reported.
Japan revised down its October-December GDP growth to an annualized 3.8 percent, data released by the Cabinet Office showed. That was below the preliminary reading of 4.6 percent annualized growth, and below a forecast for revised growth of 4.1 percent.
GDP grew 0.9 percent from the previous quarter, the Cabinet Office said, compared to a preliminary reading of 1.1 percent growth. Corporate spending was rose 0.9 percent in the quarter, less than the initial reading of a 1.0% percent rise.
The GDP deflator, a key gauge of deflation, was revised to a 2.8 percent year-on-year decline, compared with an initially reported decline of 3.0 percent, which some analysts said added pressure to the Bank of Japan to adopt more liquidity-boosting steps to counter deflation.