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Japan says October-December revised GDP

By AAP
11:39 AEST Fri Mar 8 2013
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Japan says growth was flat in the October to December quarter from the previous quarter, revising up a preliminary figure of a 0.1 per cent contraction and signalling an end to recession.

On an annualised basis, GDP grew a revised 0.2 per cent in the quarter, showing the world's third largest economy technically ended its latest recession, according to figures from the Cabinet Office.

Japan's economy had shrunk for two consecutive quarters from April through September as export demand weakened due to financial turmoil in key market Europe, a strong yen and a diplomatic row with China.

The country has seen a mixed bag of economic data lately, with the unemployment rate edging down to 4.2 per cent in January and the struggling economy remaining mired in deflation, while industrial output showed a modest rise of 0.1 per cent in January from the previous month.

However, the yen has weakened in recent months, helping make the nation's exporters more competitive and boosting their latest earnings results.