Japan’s economy contracted less than initially estimated in the fourth quarter of last year, according to revised figures the government released Tuesday. But private consumption fell slightly more than previous figures indicated.
The country’s GDP for the fourth quarter fell an annualized 1.1 percent, Japan’s Cabinet Office said Tuesday. The government’s first estimate, released in February, saw GDP drop 1.4 percent over the period.
But consumption in the country remained weak, in fact it came through slightly worse in the second estimate. It fell 0.9 percent in the fourth quarter, compared with a 0.8 percent drop for the first estimate.