TOKYO, Feb 17 (Reuters) – Japan’s economy grew 0.3 percent
in October-December from the previous quarter, posting the
fourth straight quarter of expansion, government data showed on
Monday, reflecting firm private consumption and a pickup in
capital spending.
The preliminary estimate of gross domestic product compared
with 0.7 percent growth expected by analysts in a Reuters poll.
It followed a revised 0.3 percent gain in July-September, the
Cabinet Office data showed.
The fourth-quarter GDP figure translated into an annualised
expansion of 1.0 percent, compared with economists’ median
forecast of 2.8 percent, and 3.2 percent annualised growth in
the United States in the same quarter.
Private consumption, which accounts for about 60 percent of
the economy, increased 0.5 percent, posting the fifth straight
quarter of gains.
Capital spending, which holds the key for sustained growth
in the world’s third-largest economy, rose 1.3 percent, up for
the third straight quarter.
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