Japan's gross domestic product contracted 0.1 percent in the fourth quarter of 2012 compared to the previous three months, the Cabinet Office said in Thursday's preliminary report - remaining in a technical recession with a third straight quarter in the red.
The headline figure missed forecasts for an increase of 0.1 percent following the downwardly revised 1.0 decline in the third quarter (originally -0.9 percent).
On an annualized basis, GDP was down 0.4 percent - also missing forecasts for an increase of 0.4 percent following the downwardly revised 3.8 percent decline in the previous three months (originally -3.5 percent).
Nominal GDP was down 0.4 percent on quarter versus forecasts for a flat reading following the downwardly revised 1.1 percent fall in the three months prior (originally -0.9 percent).
The GDP deflator was down 0.6 percent on year - in line with forecasts following the downwardly revised 0.8 percent contraction in Q4 (originally -0.7 percent).
Private consumption was up 0.4 percent on quarter, missing forecasts for an increase of 0.5 percent.
Capex was down 2.6 percent - well shy of forecasts for a decline of 1.8 percent and falling for the fourth consecutive quarter overall.
In a statement accompanying the data, Economics Minister Akira Amari said that recovery is expected soon, despite the disappointing Q4 data.
"Japan's economy may show some weakness for the time being. But it is likely to resume a moderate recovery thereafter due to the Bank of Japan's monetary easing, the effect of an emergency economic package, as well as an expected moderate recovery in the global economy," Amari said.
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