Japan’s economy grew 0.7 percent on-year in the fourth quarter of 2013, revised down from a preliminary reading of 1 percent due to a slowdown in capital spending and private consumption, data on Monday showed.
“It’s kind of a miss. I don’t think it’s enough to shock the BOJ into action but it is worrying, probably because business investment is still not looking strong,” HSBC Economist Izumi Devalier told CNBC Asia’s “Squawk Box.”
The revised number was also below forecasts by economists polled by Reuters for annualized growth of 1 percent. The breakdown of the data showed private consumption rose 0.4 percent in the fourth quarter from the previous one, compared with an initial estimate of 0.5 percent.
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