Japan Q4 GDP revised down to 7.1% annualised contraction

[TOKYO] Japan's economy shrank an annualised 7.1 per cent in October-December, worse than the initial estimate of a 6.3 per cent contraction, revised data from the Cabinet Office showed on Monday.

The revised figure for gross domestic product compared with economists' median forecast for a 6.6 per cent contraction in a Reuters poll.

On a quarter-on-quarter basis GDP shrank 1.8 per cent compared with a 1.6 per cent contraction in the initial reading and a median forecast of a 1.7 per cent fall.

REUTERS