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Japan says October-December revised GDP flat

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(Globalpost/GlobalPost)

Japan said Friday growth was flat in the October to December quarter from the previous quarter, revising up a preliminary figure of a 0.1 percent contraction and signalling an end to recession.

On an annualised basis, GDP grew a revised 0.2 percent 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 percent in January and the struggling economy remaining mired in deflation, while industrial output showed a modest rise of 0.1 percent 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.

si-kh/mtp

http://www.globalpost.com/dispatch/news/afp/130307/japan-says-october-december-revised-gdp-flat