Japanese Economic Growth Revised DownWard

09 March, Tokyo

The Japanese government has revised downward its annualized economic growth rate for the October-to-December quarter to 1.5 percent.

The Cabinet Office said Monday that real-term gross domestic product for last year’s 4th quarter rose 0.4 percent from the previous quarter. The economy expanded at the rate of 1.5 per cent, down from the preliminary figure of 2.2 per cent.

Personal spending grew 0.5 percent. But investment in plants and equipment edged down 0.1 percent.