Japan Heading in Right Direction

Japanese gross domestic product was flat in October-December from the previous quarter, government data showed on Friday, revised up slightly from a preliminary estimate, suggesting that the economy is slowly crawling out of a mild recession.

The reading compared with a median forecast of economists for 0.1 percent quarter-on-quarter growth, and an initial estimate of a 0.1 percent contraction, due to an upward revision to private capital spending, the revised Cabinet Office data showed.

That translated into annualized growth of 0.2 percent in price-adjusted real terms, matching an average forecast of economists and compared with an initial reading of a 0.4 percent contraction, the data showed.


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