Japan's Q4 GDP revised down to 2.2 pct growth

TOKYO, March 11 (KUNA) -- Japan's economy in the October-December period grew slower than initially estimated, chiefly due to weaker-than-expected personal spending and private inventories, the government said Tuesday.
The world's No. 3 economy's gross domestic product (GDP) expanded at an annual 2.2 percent pace in the final quarter of 2024, a downgrade from the preliminary figure of 2.8 percent released last month, according to the Cabinet Office.
However, the data confirmed the third straight quarter of expansion.
On a quarterly basis, GDP rose 0.6 percent in the three months ended December 31 from the July-September period, compared to an initial reading of 0.7 percent expansion.
Personal consumption, which makes up more than half of Japan's GDP, grew 0.03 percent, smaller than a 0.13 percent expansion in the preliminary data.
In the whole of 2024, the economy gained 0.1 percent, unchanged from the earlier figure. GDP is the total value of goods and services produced domestically. (end) mk.gta