TOKYO (Reuters) – Japan’s economy avoided a technical recession, with official data released on Monday showing the nation’s gross domestic product (GDP) grew 0.4 percent year-on-year in the fourth quarter, compared with a contraction of 0. .4% in preliminary reading.
However, this is growth below the consensus, which stood at +1.1%, highlighting concerns about the Japanese economy.
Quarterly, GDP grew by 0.1%, compared to a decline of 0.1% in preliminary reading. Analysts on average expected an increase of 0.3%.
Private consumption, which represents around 60% of the Japanese economy, declined over the October-December period by 0.3%, more than the decline reported at first reading (0.2%).
(Satoshi Sugiyama; French version Jean Terzian)
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