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Economic growth for the October-December quarter has been revised to a real 0.7 percent from the previously reported 0.8 percent, the government said Wednesday.

The figure translates into annualized growth of 3 percent in gross domestic product, instead of the 3.2 percent gain announced March 12 in the government’s preliminary report, the Cabinet Office said.

For the whole of 2000, the economy expanded 1.7 percent, unchanged from the preliminary report, for the second-straight yearly rise, the Cabinet Office said.

A slight downward revision in corporate capital investment from 6.8 percent to 6.7 percent was the main factor behind the revised figure, which was also lowered by revised figures for net exports of goods and services, the office said.

The government’s target of 1.2 percent economic growth for fiscal 2000, however, will be achieved even if the GDP declines 0.3 percent in the January-March quarter, the office said.

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