Tokyo, March 10: Japan’s government says the country’s economy shrunk more than it initially thought in the fourth quarter.
Gross domestic product contracted at an annualized rate of 1.3 percent in the October-December period, worse than the negative 1.1 percent growth reported in preliminary data last month.
The revised report includes slightly weaker figures for housing and business investment.
GDP is a measure of the value of all goods and services produced domestically.
Japan’s economy expanded 3.9 percent for the full 2010 calendar year. That figure was unchanged from the preliminary report.
——–Agencies