Japan revises Q4 GDP; economy not in technical recession

08 March 2013 08:35  [Source: ICIS news]

SINGAPORE (ICIS)--The Japanese economy moved out of a technical recession in the fourth quarter, but failed to register growth from the third quarter based on revised government numbers released on Friday.

On an annual basis, the world’s third biggest economy grew 0.2% in the last three months of 2012, data from Japan’s Cabinet Office showed.

In the first preliminary estimate, the economy had shrunk 0.1% quarter on quarter in the October-December 2012, with the annual contraction at 0.4%.

A technical recession is defined as two consecutive quarterly declines in economic output.

Japan’s GDP growth for the whole of 2012 was also revised up to 2.0% from 1.9%, official data showed.

By: Pearl Bantillo
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