Japan's economy grew more than previously estimated in the fourth quarter as capital expenditure rose at its fastest rate in almost three years — welcome news for policymakers as they begin to discuss how to wind down years of massive stimulus.
The economy grew an annualized 1.2 percent in October-December, less than the median estimate for 1.6 percent annualized growth but more than the preliminary reading of a 1 percent annualized expansion.
The figure translates into quarter-on-quarter growth of 0.3 percent, versus a preliminary reading of 0.2 percent growth and the median estimate of 0.4 percent growth.