The Japanese economy contracted a revised 3.2 percent in the fourth quarter of 2008 compared to the previous three months, the Cabinet Office said on Thursday - slightly less than the preliminary reading of -3.3 percent. On an annualized basis, real GDP was down a revised 12.1 percent versus the preliminary report of -12.7 percent.
Revised Q4 capex was down 5.4 percent compared to the 5.3 percent originally reported. Exports were revised to -13.8 percent from -13.9 percent, while imports were modified to 3.0 percent from 2.9 percent. Consumption remained unchanged at -0.4 percent.
Revised nominal GDP was -1.6 percent, up from the preliminary -1.7 percent. The deflator went to 0.7 percent from 0.9 percent, and investment went to 0.1 percent from the preliminary -0.6 percent.
Domestic demand was down 0.1 percentage points to growth, while external demand fell 3.0 percentage points to growth and inventories were up 0.5 percentage points to growth.
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