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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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.