Japan’s economy shrank less than initially estimated in the fourth quarter as companies ramped up capital expenditure to cope with an increase in demand due to reconstruction of the country’s tsunami-battered northeast coast.
The current account balance swung to a record deficit in January because Chinese Lunar New Year holidays hit exports and fuel imports bill swelled, but economists see the result as a one-off and expect annual current account to remain in surplus for the next few years.
The revision to GDP showed a 0.2 percent contraction, bang in line with the median market forecast and below the preliminary 0.6 percent decline.
(Source: CNBC)